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Thomson Reuters Corporation (NYSE:TRI) shares soared to an all-time high, reaching a price level of $185.09, pushing its market capitalization to $83.3 billion. According to InvestingPro analysis, the stock is currently trading above its Fair Value, suggesting an overvalued status. This milestone underscores the company’s robust performance over the past year, which has seen the stock climb significantly. Investors have shown increasing confidence in the global news and information firm, as reflected by the impressive total return of 23.6% over the past year. InvestingPro data reveals the company maintains an impressive 37-year streak of dividend payments and boasts a "GREAT" overall financial health score. The company’s ability to adapt and thrive in the dynamic media landscape has evidently resonated well with the market, propelling the stock to unprecedented heights. Discover 10+ additional exclusive insights about Thomson Reuters with a subscription to InvestingPro, including detailed valuation metrics and growth forecasts.
In other recent news, Thomson Reuters has announced a strategic decision to transition its U.S. stock exchange listing from the New York Stock Exchange to the Nasdaq Global Select Market. This change is set to take place at the close of market on February 24, 2025, with trading on Nasdaq beginning the following day. The company emphasized that this move will not affect its listing on the Toronto Stock Exchange. Additionally, Thomson Reuters has launched a $150 million Corporate Venture Capital Fund named Thomson Reuters Ventures. This initiative aims to invest in early-stage technology companies within sectors such as Legal Technology, Tax & Accounting, and Fintech. The fund is part of the company’s "Build, Partner, Buy" strategy to maintain its leadership in professional technology advancements. The firm has previously achieved success with its initial $100 million fund, which included the acquisition of Materia, an AI company. This new venture fund will focus on Series A investment rounds while remaining flexible to other opportunities.
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