General Motors to shift its stock listing from NYSE to Nasdaq next week

General Motors announced that its common stock will cease trading on the New York Stock Exchange after the market close on Nov. 16 and will begin trading on Nasdaq the following day, retaining the GM ticker symbol. Nasdaq confirmed the listing in an SEC filing, and the company’s board authorized the switch on Monday, also revising bylaws to reflect Nasdaq’s definition of an independent director. CFO Paul Jacobson said the transition supports shareholder value and positions GM within a “natural home” as it expands, noting the potential to join the Nasdaq-100 Index.

No action is required from current investors, and the move ends a presence on the NYSE that dates back to 1911, aside from a brief return after the 2010 bankruptcy. GM’s stock rose about 2.4% in pre-market trading following the announcement.