General Motors plans to move its common-stock listing from the New York Stock Exchange to Nasdaq effective Nov. 17, CNBC reported Thursday, citing the automaker’s announcement¹.

CNBC said shares closed 5.5% higher on Tuesday after the listing news, the stock’s largest move since Jan. 27, and gained another 2.4% on Wednesday¹. The outlet described the switch as an effort to raise GM’s valuation, recast its brand and increase passive inflows, and compared it with Walmart’s earlier Nasdaq listing as that retailer emphasized technology¹.

GM’s valuation sits at about five times forward earnings, CNBC said, and asked what it would take for the company to draw more Wall Street attention¹. A new $20 billion share repurchase, about 30% of GM’s market value, was announced with last week’s third-quarter results and funded by a raised 2026 adjusted automotive free-cash-flow outlook of $11.5 billion to $12.5 billion, up from $9.5 billion to $11.5 billion, according to that account¹. Shares still fell 7% amid cost and pricing concerns, CNBC said¹.

Gordon Haskett analyst Don Bilson wrote after earnings that GM’s multiples look low given its cash generation and buybacks, CNBC reported¹. The piece said many investors still recall GM’s 2009 bankruptcy and that the company now points to software and services units with recurring revenue as it leans further toward electric and autonomous vehicles¹.

Whether a Nasdaq listing will change how investors value GM, or match Walmart’s experience, is not established in the CNBC report¹.

Sources

1. CNBCGM is shifting gears to the Nasdaq, trying to draft behind Walmart’s lead12:04 PM

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