General Motors Leaves NYSE for Nasdaq in 1911 Listing Shift

General Motors will move its common stock listing from the New York Stock Exchange to the Nasdaq, a shift that ends a 115-year association with the historic New York exchange.

The Detroit-based company announced on Tuesday that the transition will take effect on Nov. 17. The firm intends to keep its existing ticker symbol, GM. The company's market capitalization stands at approximately $64.4 billion, and its shares closed at $76.31 on Monday.

Paul Jacobson, GM's chief financial officer, stated that the company's technology-driven strategy creates value for stockholders. He described the Nasdaq as a natural home for the listing as the firm grows. Jacobson also expressed gratitude for the long-standing partnership with the NYSE.

The move provides GM with eligibility for inclusion in the Nasdaq-100 Index. Current shareholders do not need to take any action regarding the transfer. The company noted that the switch aligns with a recent trend of established firms moving to the Nasdaq, joining peers such as Walmart, DoorDash, Palantir Technologies, and Hilton Worldwide Holdings.

GM first listed on the NYSE in 1911 and returned to the exchange in 2010 after a government-backed bankruptcy. The decision follows a technology-focused event held last week where executives detailed roadmaps for artificial intelligence and self-driving vehicles. The Nasdaq cited index inclusion opportunities and fee structures as common reasons for listing transfers in 2024.