General Motors plans to transfer its stock listing from the New York Stock Exchange to Nasdaq, a move that aligns the Detroit automaker with a growing group of established companies seeking closer association with the technology sector as they expand their investments in artificial intelligence and autonomous driving.
GM said Tuesday that it expects its common stock to begin trading on Nasdaq on November 17 under its existing ticker symbol, “GM.” The company said current shareholders would not need to take any action as a result of the transfer.
The move would end a listing relationship with the NYSE that dates back to 1911, marking a notable departure for one of America’s oldest automakers. GM returned to the stock market in 2010 after emerging from a government-backed bankruptcy, making its decision to leave the exchange a significant shift in its public-market identity.
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“GM’s customer-focused, technology-driven strategy is creating value for our stockholders, making Nasdaq a natural home for our listing as we grow,” Chief Financial Officer Paul Jacobson said in a statement. “We’re grateful for our long-standing partnership with the New York Stock Exchange and its remarkable legacy.”
GM also highlighted the potential for its shares to become eligible for inclusion in the Nasdaq-100 Index, which tracks 100 of the largest non-financial companies listed on Nasdaq. Inclusion is not guaranteed, however, and would depend on the index’s eligibility and selection requirements.
The transfer comes as GM attempts to reposition itself beyond its traditional identity as a manufacturer of cars and trucks. A week earlier, the company held a technology-focused event at which executives outlined plans for artificial intelligence and self-driving vehicle technologies, signaling that software and automation are becoming more prominent in its long-term business strategy.
GM is joining a growing list of companies that have moved their listings from the NYSE to Nasdaq in recent years. Walmart, DoorDash and Palantir Technologies have made similar transfers, while Hilton Worldwide Holdings announced last week that it also planned to move its shares to Nasdaq.
The motivations vary, but Nasdaq said in 2024 that companies commonly consider factors including potential index inclusion, listing fees, brand visibility, access to event facilities, and investor-relations and environmental, social and governance products.
The decision offers GM a way to align its public-market profile with its technology ambitions. Nasdaq has historically been associated with technology companies, making it a natural destination for businesses seeking to emphasize software, artificial intelligence and innovation alongside their established operations.
The potential Nasdaq-100 connection may also broaden investor interest. Inclusion in a major index can increase a company’s visibility among institutional investors and funds that track the benchmark. However, a listing transfer alone does not guarantee index membership, additional investment, or a higher valuation.
The distinction is important for GM, whose financial performance remains tied to the capital-intensive automotive industry. Vehicle production requires substantial spending on factories, supply chains, labor and product development, while the transition towards electric vehicles and autonomous driving introduces additional technological and commercial risks.
GM is now expected to demonstrate that its technology investments can generate sustainable returns, rather than relying on a change of exchange to reshape how investors value the business.
The automaker’s shares have more than doubled since 2024, supported in part by its aggressive share repurchases. The stock closed Monday at $76.31, giving the company a market capitalization of approximately $64.4 billion.
Share buybacks can support earnings per share by reducing the number of shares outstanding, although their long-term value is tied to the price paid and the cash available after funding operational and investment requirements. For an automaker facing major technology and manufacturing commitments, capital allocation remains a central consideration.
The Nasdaq transfer adds a new dimension to GM’s effort to attract investors, but the more consequential test will be whether its artificial intelligence and autonomous-driving plans improve efficiency, strengthen its competitive position and create new sources of revenue.
GM’s decision also reveals that the boundaries between traditional industries and technology companies are becoming less distinct in public markets. Automakers compete on software, computing capabilities, and automated driving systems as well as vehicle design and manufacturing.
A Nasdaq listing is expected to help GM communicate that evolution to investors.