General Motors stock set for Nasdaq move on November 17

General Motors announced on Tuesday, October 27, that it will transfer its common-stock listing from the New York Stock Exchange to the Nasdaq Global Select Market, according to the General Motors investor release. The company expects the change to take effect in November.

Nasdaq transfer keeps ticker unchanged

GM expects its common stock to remain listed and trade on the NYSE under the GM ticker through the close of trading on Monday, November 16. Nasdaq trading is scheduled to begin on Tuesday, November 17, with the ticker unchanged.

The transfer does not alter the shares themselves, and existing stockholders do not need to take action. General Motors said the Nasdaq listing also creates eligibility for potential inclusion in the Nasdaq-100 Index, although inclusion is not guaranteed.

Technology strategy behind move

Chief Financial Officer Paul Jacobson said GM's customer-focused, technology-driven strategy makes Nasdaq a natural home for the company as it grows. The statement frames the venue change as part of GM's effort to present its technology and transportation businesses to investors.

Stock trades above prior Xetra close

General Motors stock traded at 80.04 euros on Lang & Schwarz at 14:05 CET on Tuesday, November 3, 0.49 percent above the Xetra close of Monday, November 2. The quote offers a current market reference as investors approach the planned exchange change.

For investors following the transition, the real-time quote of General Motors stock provides the latest trading indication.

The S&P 500 provides the broader US equity-market backdrop for General Motors stock.

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