GM Stock Jumps 5.5% After Announcing Move to Nasdaq
Key Facts
General Motors shares rose 5.5% in Tuesday’s session, October 27, after the company announced it would move its stock listing from the New York Stock Exchange to Nasdaq, according to the Associated Press. The company said trading on Nasdaq would begin on November 17, after the stock remained listed in New York through the close on November 16. The stock will retain the ticker GM after the move. Chief Financial Officer Paul Jacobson said the company’s technology-driven, customer-focused strategy makes Nasdaq “a natural home for our listing as we grow.” The announcement shifts the company’s trading venue and places it among potential candidates for the Nasdaq-100.
The company’s shares rose about 2% in premarket trading on October 27, according to a Reuters report carried by Investing.com, which also said its market value stood at about $64.4 billion, based on LSEG data. The report described General Motors as set to become the first traditional automaker on Nasdaq once the move is complete. The 5.5% gain reported by the Associated Press refers to Tuesday’s session following the company’s announcement. The following day, EL7 data recorded a close of $82.48 on October 28. That data does not directly link the day’s closing price to the announcement, nor does it include the stock’s daily trading range.
The move does not make the company’s membership in the Nasdaq-100 automatic; the company said the listing only makes it potentially eligible. Nasdaq says candidate companies need an eligible listing and a minimum trading period, while it reconstitutes the index annually in December after reviewing its constituents. General Motors’ inclusion in the index therefore remains a possibility subject to Nasdaq’s criteria and review, not a confirmed outcome of the exchange change announcement. The company said current shareholders do not need to take any action to complete the listing transfer. The GM ticker is set to remain in use when trading begins on the new platform.
The company cited its focus on customers and technology in explaining its choice of Nasdaq. Jacobson said the strategy “creates value for our shareholders” and that the exchange suits the company as it expands. That rationale intersects with General Motors’ work on a new software architecture for its future vehicles, according to Reuters, to run automated driving systems and other digital features. The report said the company is betting drivers will be willing to pay for those services. This context offers one view of the company’s push to highlight its technology business alongside its automotive operations. The Reuters report did not say software development was a direct reason for the decision to move the listing.
The announcement came in a week that also saw the release of separate U.S. economic data, unrelated to the company’s decision. Real gross domestic product grew at an annual rate of 3.4% in the third quarter of 2026, compared with growth of 2.2% in the second quarter, according to the U.S. Bureau of Economic Analysis. The bureau attributed the acceleration to investment, consumer spending and government spending, partly offset by a decline in exports. These figures do not explain General Motors’ share-price move or its listing-transfer decision, as they were released on October 29, after the company’s announcement on October 27. They do, however, provide a picture of U.S. economic performance in the period before the stock’s scheduled move.
Bureau data showed that current-dollar personal consumption expenditures rose 0.5% in September from the previous month, after an increase of 0.9% in August. Real spending was unchanged in September after rising 0.5% in the previous month. The gap between the readings shows that a nominal increase does not mean spending volume grew after accounting for price effects. The data cover September, while the listing-transfer announcement was made in October. The second estimate of third-quarter GDP and corporate profits is scheduled for release on November 25, 2026, according to the Bureau of Economic Analysis.