Why Texas Pacific Land Corporation Zoomed 4% Higher Today

On the second-to-last trading day of the week, investors cheered the latest move made by Texas Pacific Land Corporation (NYSE: TPL). The storied company's stock is going to anchor a new regional equities exchange, and market players cheered the expansion. They bid up Texas Pacific's shares by 4%, a figure well higher than the barely over 0% posted by the S&P 500 index that day.In what feels like a suitable and symbolic development, Texas Pacific will list some of its equity on the newly formed NYSE Texas exchange. As the name implies, this is a branch of the New York Stock Exchange located in the large state. It offers solely electronic trading, as opposed to the traditional variety. In doing so, Texas Pacific is a founding member of the new bourse. Image source: Getty Images.Continue readingWeiter zum vollständigen Artikel bei MotleyFool Weiter zum vollständigen Artikel bei MotleyFool