General Motors Co. (NYSE:GM) stock climbed on Thursday as market participants continued buying following Tuesday’s announcement that the automaker will transfer its stock listing from the New York Stock Exchange to the Nasdaq Global Select Market.
• General Motors shares are climbing with conviction. What’s behind GM gains?
The move comes as broader markets retreated, with the Nasdaq falling 1.42% and the S&P 500 shedding 0.42%, while the Consumer Discretionary sector gained 0.8%.
GM said its stock will trade on the NYSE through Nov. 16, before starting on Nasdaq on Nov. 17 under the symbol “GM”. The transition requires no action from existing stockholders.
Nasdaq-100 Index Eligibility
The listing shift makes General Motors eligible for potential inclusion in the Nasdaq-100 Index, an index that tracks 100 of the largest nonfinancial companies on Nasdaq. Inclusion could prompt index-tracking funds to purchase the stock, although eligibility does not guarantee a spot.
GM CFO Paul Jacobson stated the exchange transfer aligns with the company’s customer-focused, technology-driven strategy and efforts to create long-term shareholder value, while recognizing GM’s longstanding relationship with the NYSE.
Earnings and Financial Outlook
The transfer follows GM’s third-quarter results on Oct. 20, where revenue rose 2.9% year over year to $50.02 billion, exceeding expectations of $48.70 billion. Adjusted earnings reached $3.70 per share, topping estimates of $3.63.
The automaker narrowed its full-year 2026 adjusted earnings outlook to $12.75–$13.75 per share, compared to Wall Street’s $13.41 consensus, while managing cost pressures and authorizing a $20 billion stock repurchase program.
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Technical Analysis
From a trend perspective, GM is trading above all the major moving averages, sitting about 5.9% above the 20-day SMA ($80.88) and about 6.3% above the 200-day SMA ($80.54), which keeps the longer-term bias pointed up. The catch is the 20-day SMA remains below the 50-day SMA ($83.07), a short-term bearish crossover that suggests the stock is still working through the after-effects of the prior pullback even as price recovers.
- Key Resistance: $88 — Nearby round-number area where rebounds can stall, sitting just above the current price and below the $91.85 52-week high.
- Key Support: $83 — Nearby pivot area that lines up closely with the 50-day SMA ($83.07), making it a practical “line in the sand” for dip buyers.
GM Stock Price Activity: General Motors shares were up 3.41% at $85.30 at the time of publication on Thursday, according to Benzinga Pro data.
Photo: Formatoriginal via Shutterstock
