GM to move stock listing to Nasdaq from NYSE on Nov. 17

General Motors Co. said Tuesday it will move its stock listing from the New York Stock Exchange to the Nasdaq Global Select Market, with shares expected to begin trading on Nasdaq on Nov. 17 under the same GM ticker.

The automaker’s shares will stay on the NYSE through the close of trading on Nov. 16, and the move could make GM eligible for the Nasdaq-100 Index, which tracks 100 of the largest non-financial companies listed on the exchange. Inclusion is not guaranteed.

Existing shareholders do not need to take any action, Fox Business reported. GM did not announce any changes to its operations in connection with the transfer.

GM shares were about 2.4 per cent higher in pre-market trading Tuesday, Yahoo Finance reported. The figure reflects early trading and may change through the session.

GM chief financial officer Paul Jacobson tied the decision to the company’s focus on technology. “We’re grateful for our long-standing partnership with the New York Stock Exchange and its remarkable legacy,” Jacobson said, adding that Nasdaq is a natural home for the listing as the company grows.

The company has emphasized advanced vehicle technology and electric vehicles as key parts of its long-term growth strategy, Fox Business reported. Other major companies have moved from the NYSE to Nasdaq over the past 20 years, often to strengthen a technology image and gain index eligibility, Yahoo Finance reported. Nasdaq has said transferred stocks often see tighter bid-ask spreads and better liquidity.

The change affects where GM stock is traded, not where its vehicles are built. For Canadians, the more direct link to the automaker is its Ontario operations. Unifor-represented GM workers in Ontario approved a new three-year contract covering about 4,600 hourly workers, AutoGuide reported on Aug. 31. The report said GM committed $144 million to build the next-generation GMC Sierra Heavy Duty at its Oshawa, Ont., assembly plant and guaranteed continued operations at CAMI Assembly in Ingersoll, Ont.

AutoGuide also reported that Canadian auto manufacturing faces existing 25 per cent U.S. tariffs, with possible increases to 50 per cent in early 2027. Trade talks between Ottawa and Washington are continuing: see our report that Hassett says a U.S.-Canada trade deal is “very close”. Canadian investors can follow the day’s market moves in our TSX today preview, and the autoworkers’ union is also bargaining at another Detroit automaker, where Stellantis workers gave Unifor a 97 per cent strike mandate.

The listing transfer takes effect Nov. 17. GM has not said whether it will seek inclusion in the Nasdaq-100, which is decided by the index provider.

Via Fox Business and Yahoo Finance.

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