General Motors leaves the New York Stock Exchange for Nasdaq as of November 17
According to the automaker, the change reinforces its positioning as a technology-driven company, and the GM ticker will be maintained.
BY THE X-TRADER NEWS NEWSROOM · REPORTING FROM TIMES BRASIL · 2 MIN
General Motors will leave the New York Stock Exchange and start trading its shares on Nasdaq. According to Times Brasil, the change has a set date: the last trading session on the NYSE takes place on November 16th, and from November 17th the automaker's shares will start to be traded on the Nasdaq Global Select Market.
Exchange switching does not change the trading code. According to Times Brasil, the company will maintain the GM ticker, which preserves the identification that investors and analysts already use to follow the company.
When announcing the decision, GM stated that the change seeks to reinforce its positioning as a technology-driven company. According to Times Brasil, this is the reason cited by the company, and Nasdaq is traditionally associated with companies in the sector.
Anyone who already owns GM shares does not need to do anything, according to Times Brasil. Current shareholders will not have to take action to continue with their shares after the trading transfer.
For the Brazilian investor who trades American shares through brokers, the stock exchange is a detail of market infrastructure that deserves attention on the scheduled date, especially for those who follow the company on the trading floor.
What changes for the investor
In theory, the change does not alter the company's operations. What changes is the market where the shares will be traded from November 17th. A migration of this type could attract the attention of investors interested in technology-related companies, but this is a hypothesis and not a price prediction. Anyone who has a position at GM is worth checking the date and checking with the broker how the deal will appear on the new exchange.
Automatically translated from Portuguese.
