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GM will switch to Nasdaq from the NYSE on Nov. 17
CNBC • • business
Key Points:
- General Motors announced it will transfer its common stock listing from the New York Stock Exchange (NYSE) to Nasdaq, with trading expected to begin on November 17, while retaining the ticker symbol "GM."
- The move aligns with GM’s strategy to position itself as a technology-focused company and could make the stock eligible for inclusion in the Nasdaq-100 Index.
- GM emphasized that current shareholders do not need to take any action regarding the transfer, highlighting the transition as a strategic step in its technology-driven growth.
- This shift marks a significant loss for the NYSE, where GM has been listed since 1911, and follows similar moves by companies like Walmart, DoorDash, Palantir Technologies, and Hilton Worldwide Holdings.
- GM’s decision follows a recent technology-focused event and comes amid strong stock performance, with shares more than doubling in 2024 and a market capitalization of approximately $64.4 billion.
