GM Shifts $64.4 Billion Market Cap to Nasdaq

General Motors will transfer its common stock to the Nasdaq on Nov. 17.

The Detroit-based automaker announced the move on Tuesday, confirming its ticker symbol will remain "GM." The company stated that current shareholders do not need to take any action to complete the transfer.

GM has been listed on the New York Stock Exchange since 1911. It also relisted on the NYSE in 2010 after emerging from a government-backed bankruptcy. The shift follows a similar path taken by Walmart, DoorDash, Palantir Technologies, and Hilton Worldwide Holdings, which all moved from the NYSE to the Nasdaq in recent years.

Paul Jacobson, GM's chief financial officer, said the move aligns with the company's strategy. "GM's customer-focused, technology-driven strategy is creating value for our stockholders, making Nasdaq a natural home for our listing as we grow," Jacobson said in a release.

The transfer provides GM eligibility for potential inclusion in the Nasdaq-100 Index. In 2024, Nasdaq cited index inclusion opportunities, fee structures, and brand visibility as common reasons for listing transfers. The decision comes one week after GM executives presented a roadmap for artificial intelligence and self-driving vehicle technologies at a company event.

GM shares closed at $76.31 per share on Monday. The stock has more than doubled since 2024 as the company continues to buy back shares. The company's total market capitalization stands at approximately $64.4 billion.