GM Is Leaving The NYSE For Nasdaq On November 17, With The Nasdaq-100 In Sight
The automaker will keep its GM ticker after the switch, and a Nasdaq listing opens the door to the Nasdaq-100 Index.
General Motors will move its common stock from the New York Stock Exchange to the Nasdaq Global Select Market, with Nasdaq trading expected to begin November 17 under the same GM ticker, the company said Tuesday. The listing makes the automaker eligible for potential inclusion in the Nasdaq-100 Index.
A switch with a fixed calendar
GM's board authorized the voluntary withdrawal from the NYSE on October 26, and Nasdaq has already approved the new listing, the company said in an 8-K. GM expects NYSE listing and trading to end at the close on November 16, with the first Nasdaq session the next day.
The stock will continue to trade as "GM" after the transfer. Existing stockholders need take no action, according to the press release issued Tuesday morning.
Why Nasdaq, in the CFO's words
The release ties the move to eligibility for the Nasdaq-100 Index, which a Nasdaq listing provides. It says only that inclusion is potential.
Paul Jacobson, GM's executive vice president and chief financial officer, said the company's "customer-focused, technology-driven strategy is creating value for our stockholders, making Nasdaq a natural home for our listing as we grow." He also thanked the NYSE for its "long-standing partnership."
Bylaws change on day one
The board also approved amendments to GM's bylaws on October 26. They update the criteria that define an "Independent Director" to reflect the Nasdaq listing, and they take effect when Nasdaq trading begins.
GM designs, builds and sells trucks, crossovers, cars and parts under the Buick, Cadillac, Chevrolet and GMC brands, and runs a financing arm, GM Financial, that lends to car buyers and dealers.
The first Nasdaq session, November 17, is also the day the revised director-independence bylaws take effect.
Sources
- 8-K Filing — General Motors Co (GM) — SEC EDGAR
- Exhibit d53522dex991.htm — General Motors Co 8-K exhibit — SEC EDGAR
- SA Asks: How can General Motors get back on track? (GM:NYSE) | Seeking Alpha — seekingalpha.com
- GM Analysts Say Buy the Dip as Stock Eyes Worst Week Since 2025 — Yahoo Finance
