General Motors moves listing from NYSE to Nasdaq and pitches itself as a tech company
The carmaker is the latest to make the move, following Walmart in 2025 and Hilton earlier in October.
General Motors announced it is relocating its stock listing from the New York Stock Exchange (NYSE) to Nasdaq. This move comes as part of an attempt to be included in Nasdaq’s tech-heavy index, which could attract new investors to the company’s shares. However, GM is not a tech company, despite recent efforts to position itself as one.
The company has a history of failed initiatives, notably its self-driving car project Cruise, which required over $10 billion in investment but yielded little success. GM's involvement with electric vehicles has also been inconsistent, leaving stakeholders uncertain about the company's strategy.
On Tuesday, GM announced it would redesign some of its factories to produce new hybrid versions of its popular three-row SUVs. The automaker has also begun integrating AI features into its vehicles, such as an assistant that can control various functions, answer queries, and assist with route planning. Despite these advancements, Wall Street remains skeptical of GM's tech transformation.
The company's stock price increased by 5% on Tuesday, but it still trades at a valuation similar to a traditional automaker rather than a major technology company.
Nasdaq listings have proven attractive to other firms, with Walmart moving to the exchange last year, which was said to bring in $19 billion of index-fund money. Hilton also recently announced its move to Nasdaq.
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