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General Motors announced Tuesday that it will transfer its stock listing from the New York Stock Exchange to Nasdaq next month, a move the Detroit automaker said reflects its growing focus on technology and innovation.
The company said its shares are expected to begin trading on the Nasdaq Global Select Market on Nov. 17 under the existing ticker symbol “GM.”
“GM’s customer-focused, technology-driven strategy is creating value for our stockholders, making Nasdaq a natural home for our listing as we grow,” GM 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, which operates the Chevrolet, Buick, GMC and Cadillac brands, has increasingly emphasized advanced vehicle technology as a key part of its long-term growth strategy.
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The listing change comes as GM continues investing in technologies aimed at making vehicles safer, smarter and more efficient, while expanding its electric vehicle offerings.
The transfer could make GM eligible for inclusion in the Nasdaq-100 Index, which tracks 100 of the largest non-financial companies listed on the exchange, but inclusion is not guaranteed.
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GM shares will remain listed on the NYSE through the close of trading on Nov. 16.
The automaker said existing shareholders will not need to take any action as a result of the transfer.
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GM did not announce any changes to its business operations in connection with the stock exchange transfer.
