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Many California corporations have moved to Texas. These include HP, Oracle, Tesla and Charles Schwab. It turns out many companies like less regulations.

Well, the Texas economy has been booming. It has been outpacing the rest of the US for many quarters now. They are financially doing something right.

The Fortune 500 could still issue new shares on the new Texas exchange.

NASDAQ has a diversity rule. I'm assuming this exchange will not have one.