General Motors (GM), an automaker more than 100 years old, will move its listing from the New York Stock Exchange to Nasdaq, the New York Times reported on Oct. 27 local time. It is a strategy to draw investors by projecting a technology-focused corporate image.

According to the report, GM first listed on the New York Stock Exchange in 1911. GM shares will trade on the NYSE through the close on Nov. 16.

Paul Jacobson (폴 제이컵슨), GM's chief financial officer, said, "For GM, which is pursuing a customer-centric, technology-driven strategy, Nasdaq is a natural place."

Nasdaq lists the world's biggest technology companies, including Nvidia and Apple. In recent years, Walmart and Palantir have also left the NYSE for Nasdaq. SpaceX and Anthropic, which have completed or are pursuing initial public offerings with valuations in the trillions of dollars, also chose Nasdaq.

GM said that listing only on Nasdaq would make it eligible for inclusion in the Nasdaq 100 index. The Nasdaq 100 tracks large Nasdaq-listed companies excluding financial firms. Nasdaq said funds and portfolios that follow the index total $1.4 trillion. If GM enters the index, fund managers would have to buy GM shares, which could lift the share price, the New York Times reported.