General Motors will transfer its listing from the NYSE to Nasdaq on November 17, while Hilton will do so on November 5. GM shares rose 6% after the announcement, partly on hopes of joining the Nasdaq 100, a volatile index that has consistently outperformed the broader S&P 500. A new fast-track rule allows major IPOs, including SpaceX and Anthropic, to enter the index after only 15 trading days. The NYSE, however, says $500 billion in market capitalization has transferred to it year to date, a calculation based on 21 companies that left the Nasdaq 100 over the past 40 years.
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