General Motors Shifts Stock to Nasdaq

General Motors wants Wall Street to see it as a tech giant. The classic automaker plans to pack its bags and leave the New York Stock Exchange.

GM will move its common stock to the Nasdaq exchange. Company leaders say this move matches their heavy focus on software and electric vehicles.

The switch gives GM a clear shot at the Nasdaq-100 index. Large investment funds track that list closely. Entering the index forces those funds to buy more shares of the company.

Everyday investors keep their shares without doing any extra work. The ticker symbol remains the same. The change shows how traditional car makers want investors to price them like Silicon Valley.

Source: Fox Business