General Motors Company (GM.US) Abandons NYSE for Nasdaq in Bid to Reshape Tech Company Image

General Motors Company (GM.US) plans to move its stock listing from the New York Stock Exchange to the Nasdaq Global Select Market, a move aimed at positioning the traditional automaker as a technology-forward company embracing autonomous driving and electric vehicles. According to a statement released on Tuesday, General Motors Company shares will begin trading on Nasdaq on November 17, retaining the "GM" ticker symbol. General Motors Company noted that the new listing venue gives it potential eligibility for inclusion in the Nasdaq-100 Index. General Motors Company Chief Financial Officer Paul Jacobson, citing the company's "technology-driven strategy," said in the statement that as General Motors Company evolves, Nasdaq "naturally became the ideal place for us to list." The unexpected move underscores General Motors Company's embrace of technology, particularly amid intensifying competition from emerging electric vehicle manufacturers. Just days earlier, General Motors Company held an event in New York showcasing upcoming electric vehicle models equipped with advanced driver-assistance features and battery technology. The transfer is another notable win for Nasdaq. Previously, Walmart Inc. (WMT.US) made a similar move last year, and DoorDash (DASH.US) followed suit in 2023. Just a week ago, Hilton Worldwide Holdings Inc (HLT.US) announced it would join Nasdaq, dealing another blow to the New York Stock Exchange. As of press time, General Motors Company rose 2.8% in premarket trading.