General Motors Moving Stock Listing to Nasdaq From NYSE

What happened

General Motors is moving its stock listing to Nasdaq from the New York Stock Exchange. GM expects to begin trading as a Nasdaq-listed company on Nov. 17 under its current GM stock symbol, after trading on the NYSE through the close of business on Nov. 16.

Confirmed

Global impact / market context

The move positions GM, with a market capitalization topping $64 billion, to join the Nasdaq-100, an index of the 100 largest nonfinancial companies on that exchange. Index membership can draw passive fund buying, which means money tied to the index would need to buy GM shares.

Analyst inference

GM joins other well-known companies that switched to Nasdaq from the NYSE in recent years, including Walmart late last year and Hilton, which said last week it is moving its listing in early November. This shows a broader shift of large listed companies toward Nasdaq.

Analyst inference

What to watch

1. GM's shares will continue to trade on the NYSE through the close of business on Nov. 16, then begin trading as a Nasdaq-listed company on Nov. 17 under the current GM stock symbol. Confirmed
2. Watch whether GM is added to the Nasdaq-100, which the article says its move would position it to join. Such an addition could prompt index-tracking funds to buy shares. Proposed
3. Watch whether more large NYSE-listed companies follow Walmart, Hilton and GM to Nasdaq, since that could shift trading volume and index-linked fund demand toward Nasdaq over time. Analyst inference

Evidence

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