General Motors Moves from NYSE to Nasdaq on November 17

General Motors Co. will transfer its stock listing from the New York Stock Exchange, where the company has traded for 115 years, to the Nasdaq Global Select Market. The GM ticker will remain, with trading set to begin on November 17, according to a statement on Tuesday. The new listing provides the potential for inclusion in the Nasdaq-100 index.

"Nasdaq is a natural home for our listing as we grow," said CFO Paul Jacobson, citing a "technology-driven strategy." GM shares rose 4% by 9:33 a.m. in New York.

The unexpected departure from NYSE aligns with GM's focus on technology: young electric vehicle manufacturers and growing competition from China and other countries threaten Detroit's positions. The company is trying to convince investors to view it differently—so far unsuccessfully—by proving that investments in autonomous driving systems and software services offer revenue growth potential with higher margins. The announcement came a few days after an event in New York where GM showcased new electric vehicles with advanced driver assistance systems and battery technologies.

For Nasdaq, this is another notable victory: last year Walmart moved there, in 2023 DoorDash, and a week ago Hilton Worldwide announced its transition. Nasdaq remains the preferred platform for major tech listings: Elon Musk's SpaceX and Anthropic have chosen this exchange. JPMorgan analysts said on Tuesday they expect GM to be included in the Nasdaq-100 in December; by market capitalization, the automaker will become the second-largest non-member of the index after Hilton.

According to a company representative, GM has been working on the new listing for over a month in hopes that Nasdaq index funds will buy the shares and open the stock to a broader range of investors. Management has long considered the shares undervalued relative to cash flow. Earlier this month, GM announced a new $20 billion share buyback round in addition to tens of billions spent since 2023. Despite the announcement, shares fell that day: CEO Mary Barra warned of "intensifying challenges."