General Motors to Move Listing From NYSE to Nasdaq, Shares Rise 2.4% Pre-Market

General Motors (GM) announced Tuesday it will transfer its stock listing from the New York Stock Exchange to the Nasdaq Global Select Market, with trading expected to begin on the new exchange November 17 under the ticker "GM." Shares rose about 2.4% in pre-market trading Tuesday following the announcement. The automaker is expanding into autonomous driving, artificial intelligence and electric vehicles as it seeks to strengthen its technology-company positioning. GM said the move will make it eligible for future inclusion in the Nasdaq-100 Index, though it does not guarantee index membership. Existing shareholders need take no action, the company said. CFO Paul Jacobson said GM's customer-focused, technology-driven strategy is creating shareholder value and that Nasdaq is a natural fit as the business grows. The decision follows a technology-themed event last week at which executives outlined AI and autonomous-driving roadmaps. GM, which listed on the NYSE in 1911 and returned in 2010 after a government-backed bankruptcy restructuring, closed Monday at $76.31 per share, giving it a market value of about $64.4 billion. Walmart, DoorDash and Palantir have made similar moves; Hilton announced plans last week.