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Thomson Reuters Corporation (NYSE:TRI) shares soared to an all-time high this week, reaching a peak of $180.43 USD, with InvestingPro data showing the stock trading significantly above its Fair Value, suggesting an overvalued status. The global news and information firm has seen a significant uptrend in its stock value, reflecting a robust 1-year change of 17.98%. The company’s strong performance is backed by solid fundamentals, including a 37-year track record of consistent dividend payments and an impressive "GREAT" Financial Health score. This impressive growth underscores the company’s strong performance and investor confidence in its strategic initiatives and market position. The milestone of achieving an all-time high is a testament to Thomson Reuters’ resilience and adaptability in a dynamic industry landscape, supported by a healthy 6.83% revenue growth and stable 38.88% gross profit margin. For deeper insights into TRI’s valuation and 10 additional exclusive ProTips, visit InvestingPro.
In other recent news, Thomson Reuters announced its decision to transfer its U.S. stock exchange listing from the New York Stock Exchange to the Nasdaq Global Select Market. The switch is scheduled to occur at the close of market on February 24, 2025, with trading on Nasdaq beginning the following day. This strategic move aligns Thomson Reuters with other tech-driven firms on Nasdaq, though the company will maintain its listing on the Toronto Stock Exchange. Additionally, Thomson Reuters has launched a new $150 million Corporate Venture Capital Fund called Thomson Reuters Ventures. This initiative follows an earlier $100 million fund and aims to invest in early-stage technology companies. The fund will focus on sectors such as Legal Technology, Tax & Accounting, and Fintech, among others. Tamara Steffens, Managing Director of Thomson Reuters Ventures, emphasized the fund’s role in driving innovation and supporting companies that are leading technological advancements. The company aims to maintain its leadership position by investing in businesses that address key challenges for professionals.
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