US Stock Market Move | General Motors Company (GM.US) rises over 6% as it seeks to switch to Nasdaq to reshape its image as a tech company.

On Tuesday, General Motors Company (GM.US) opened higher and climbed further, rising over 6% as of press time. On the news front, General Motors Company 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. Amid increasingly fierce competition from emerging electric vehicle manufacturers, General Motors Company is actively embracing technology. The company previously held an event in New York showcasing upcoming electric vehicle models equipped with advanced driver-assistance features and battery technology. According to a statement it released, General Motors Company shares will begin trading on Nasdaq on November 17, continuing to use 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" in the statement, said that as General Motors Company grows, Nasdaq "naturally became the ideal place for us to list."