A panel hosted by Laffer Tengler Investments debates whether GM's move to the Nasdaq (^IXIC) makes it a tech or data company. Speakers note GM has worked on connectivity for 10–15 years through OnStar and once brought in Apple executives, though that effort did not work out as well as expected. Most panelists argue GM remains an automaker with heavy physical capital expenditure needs and thousands of workers, so changing the listing location alone does not alter that. They say the move would make more sense if GM pursued a data or robotics focus, and describe Nasdaq 100 inclusion as a plus rather than proof of being a tech company. One panelist concludes that the big winner from the move is the Nasdaq.
Summary written by Upside AI from the original article. Read the source for full details.
Read the original on Yahoo Finance ↗
Keywords
General MotorsNasdaqtech stocks
Open a keyword to see other news on the same topic.
Related news
- GM will switch to Nasdaq from the NYSE on Nov. 17
General Motors plans to transfer its common stock from the NYSE to Nasdaq, with trading as a Nasdaq-listed company expected to begin on November 17 under the unchanged ticker GM. The move makes GM eligible for potential inclusion in the Nasdaq-100 Index, and current shareholders do not need to take any action. CFO Paul Jacobson said the customer-focused, technology-driven strategy is creating value for stockholders, making Nasdaq a natural home for the listing as the company grows. GM first listed on the NYSE in 1911 and relisted there in 2010 after a government-backed bankruptcy, and it follows companies such as Walmart, DoorDash and Palantir in moving to Nasdaq. GM closed Monday at $76.31 per share, with a market cap of roughly $64.4 billion, and its shares have more than doubled since 2024.
- Sector Update: Tech Stocks Gain Tuesday Afternoon
- Dividend stocks are having an excellent October as tech sector struggles
- The Nasdaq Crashed 700 Points in a Day Last Week. One Major Wall Street Firm is Predicting the Correction Will End After Midterms.
The Nasdaq plunged nearly 700 points in a single trading session as concerns about artificial intelligence spending rattled technology investors. One major Wall Street firm believes the correction could end after the 2026 midterm elections.
- Sector Update: Tech Stocks Gain Monday Afternoon
- Sector Update: Tech Stocks Edge Higher Premarket Monday
Related markets
Latest news
- Amazon's anti-tokenmaxxing memo says engineers should be pickier about using AI
Amazon has issued AI usage guidelines for software engineers in a memo to staff, circulated internally in September and posted on its website on Tuesday. The company discourages 'tokenmaxxing', where developers use AI as much as possible with little regard for output, and says metrics such as token usage, AI tool adoption rates and code changes or reviews are 'deeply flawed' ways to measure AI use, potentially raising costs and complexity. It nonetheless says such data should be considered 'with care and judgment' alongside other data, and prefers measuring teams by long-term outcomes. Amazon also says work that does not benefit from current AI tools is 'a finding, not a failing.' Earlier, the company shut down an internal leaderboard in May after employees were found tokenmaxxing to climb the ranks, and says it has not set caps on token usage.
- 3 Magnificent Stocks Trading Near Their 52-Week Lows
This article highlights three leading stocks trading near their 52-week lows: Netflix (NFLX), American Express (AXP) and Uber Technologies (UBER), even as the S&P 500 has continued to climb. Netflix is down more than 30% this year on concerns about slowing growth and intensifying competition, but it still forecasts 13% full-year revenue growth and trades at 18 times earnings. American Express has fallen over 15% despite adjusted net income of $3.2 billion in the third quarter, up 11% year over year, and trades at a price-to-earnings multiple of 19 versus the S&P 500 average of 23. Uber trades at less than 15 times trailing earnings after revenue rose 12% and bookings increased 24% in the June quarter. The author argues the market is wrong to see autonomous driving as a risk to Uber, which could instead complement its existing platform.
- Coca-Cola Organic Revenue Jumps 7% Despite Flat North America Volumes. Here's What Investors Need to Know.
Coca-Cola reported third-quarter revenue of $13.4 billion, up 7%, with organic revenue also up 7% and adjusted earnings per share of $0.91, up 11%. Global unit case volume rose 5%, driven mainly by Latin America, Asia Pacific and Europe, Middle East and Africa, while North American volume was flat and shares were down 1% in early afternoon trading. In North America, gains in Coca-Cola's trademark products were offset by declines in water, sports drinks, coffee and tea. Operating margin expanded to 33.4% from 32%, free cash flow reached $11.4 billion for the first nine months, and the company raised its full-year free cash flow forecast to at least $13 billion. The article suggests North America needs attention, even as international markets continue to support growth.
- Bitcoin Wallet Maker Keystone Pulls Devices as Stolen Key Opens Door to Fakes
Keystone will destroy 18,835 unsold hardware wallets and has suspended shipping of unshipped orders after an attacker obtained the permanent factory WebAuth key used to verify its devices are genuine, which could let counterfeit wallets pass its own check. The breach, detected October 20, exposed 25,964 buyer records from its Shopify store covering 2024 to 2026, including names, contact details and shipping addresses, but Keystone says recovery phrases and private keys were not involved and devices delivered before October 20 are unaffected. Keystone admitted that an automated deletion tool failed, leaving records that should have been erased under its 180-day policy. It has cut retention to 90 days and expects erasure to finish on November 3. The company also warned that scammers posing as 'recall' staff are asking customers to ship devices to them.
- What's behind the AI trade comeback — plus, our take on Intel's latest deal
Stocks rose again Tuesday as AI infrastructure names extended their rebound from last week's sell-off, with the Nasdaq up over 1% while the Dow was flat after Boeing fell over 9% following a statement that it won't significantly ramp up 737 Max production until late next year. The market grew more comfortable with AI funding concerns after Anthropic filed for an IPO, Meta upsized its common stock offering to $25 billion, and Broadcom secured $63 billion in financing for Anthropic to buy AI accelerators and networking solutions. Intel agreed to buy Classiq, a quantum computing software provider, reportedly for about $2.3 billion, and its shares rose 3.5%. The author says he would prefer Intel put its $20 billion stock offering proceeds toward expanding 14A foundry capacity, though he trusts CEO Lip Bu Tan's discipline. Hyperscale earnings from Alphabet, Microsoft and Amazon are the next catalyst, and Intel reports Thursday evening.
- Amid the Anthropic IPO excitement, don't forget about earnings season
Meta said it will raise $95 billion through stock offerings to support its AI build-out, while Anthropic published a 407-page IPO prospectus, but earnings season continues with results from Coca-Cola, Hilton, UPS and Whirlpool. The author says Hilton's revenue per available room grew 5.8% and the company remains an aggressive buyer of its stock, while UPS reported US sales up 4.5% and raised full-year guidance, suggesting higher fuel prices are not slowing travel. Coca-Cola raised its guidance and Coke Zero sales surged 16%, which the author reads as continued share gains over PepsiCo. Whirlpool posted an adjusted loss of $0.21 per share as costs rose and a near-frozen US housing market weighed on demand, and its stock is down more than 63% this year.
Get the briefing on Telegram or Zalo
Join the Upside Telegram channel or Zalo group for the Vietnam stocks and gold briefing at 8:00 and 19:00 (Vietnam time) on trading days, plus a weekly wrap on Saturday morning.