General Motors Switches Stock Listing to Nasdaq

General Motors wants Wall Street to see it as a tech company. The carmaker is leaving the New York Stock Exchange. It will move its stock listing to the Nasdaq.

The switch marks a big shift for Detroit's oldest automaker. Nasdaq hosts major tech firms like Apple and Microsoft. GM wants to stand next to those giants. The move could also help GM join the Nasdaq-100 Index.

Joining that index means large funds must buy GM shares. Index funds track the Nasdaq-100. When a stock joins the list, these funds buy millions of shares.

GM is spending billions on electric cars and smart software. If you own GM stock, your shares keep their value during the switch. You will soon trade them on the new exchange.

Source: Fox Business