General Motors Company ($GM) Stock Forecast: Up 5.1% Today

What is General Motors Company?

General Motors (GM) is a well-known American automaker with a strong presence in the global automotive market.

Why is General Motors Company going up?

GM stock is up 5.1% on Nov 22, 2024 16:56

• General Motors' recent uptrend may be linked to its potential entry into the Formula One racing grid by 2026, sparking interest among investors in the company's growth prospects in the racing industry.
• Cost-cutting efforts, such as layoffs and plans to trim expenses by $2 billion by 2024, are viewed favorably as proactive measures to enhance efficiency and profitability, also contributing to the positive momentum.
• Contrasting Ford's reduction in its European workforce due to weak demand for electric vehicles, General Motors' strategic decisions seem to have reinforced investor confidence in the company's positioning and overall direction, driving the stock's upward movement.

GM Price Chart

GM Technical Analysis

GM News

General Motors Gears Up For Potential F1 Entry In 2026: Report - General Motors ( NYSE:GM )

U.S. automaker General Motors GM is reportedly on the brink of securing a spot on the Formula One grid by 2026. What Happened: The Detroit-based automaker could join the Formula One grid as early as 2026 with its own team, The Athletic reported, citing people familiar with the matter.

https://www.benzinga.com/24/11/42135392/general-motors-gears-up-for-potential-f1-entry-in-2026-report

Why Is General Motors ( GM ) Up 3.7% Since Last Earnings Report?

General Motors (GM) reported earnings 30 days ago. What's next for the stock? We take a look at earnings estimates for some clues.

https://www.zacks.com/stock/news/2373546/why-is-general-motors-gm-up-37-since-last-earnings-report

What's Going On With Ford Stock Wednesday? - Ford Motor ( NYSE:F )

Ford Motor Company F stock is trading lower on Wednesday. The automobile giant announced that it will cut about 14% of its European workforce. Here's what you need to know. What To Know: According to Reuters, Ford is cutting some of its European personnel due to weak demand for electric vehicles ...

https://www.benzinga.com/trading-ideas/movers/24/11/42092632/whats-going-on-with-ford-stock-wednesday-2

What's Going On With General Motors Today? - General Motors ( NYSE:GM )

General Motors Company GM has reportedly laid off 1,000 employees as part of its plan to reduce costs by $2 billion by the end of 2024. This follows earlier layoffs in its software and services division and voluntary buyouts in 2023, which affected 5,000 employees according to The Wall Street ...

https://www.benzinga.com/trading-ideas/movers/24/11/42016737/whats-going-on-with-general-motors-today

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General Motors Company Price History

22.09.2024 - GM Stock was up 10.4%

• GM outperformed expectations in the third quarter, particularly in its North America operations.
• The company posted impressive figures for earnings per share, sales growth, and adjusted EBIT, signaling a successful shift towards electric vehicle profitability.
• General Motors raised its full-year guidance, outperforming revenue and earnings predictions, leading to the stock's upward movement.
• The market reacted positively to GM's strong Q3 results and optimistic future outlook, driven by increasing consumer demand and the company's strategic focus on key areas such as pickups and EVs.

22.09.2024 - GM Stock was up 5.4%

• GM exceeded Q3 revenue and EPS estimates, inspiring a bullish sentiment among investors.
• The company lifted its annual profit forecast, reflecting increasing consumer demand and a favorable future outlook.
• Despite previous warnings of 'rising earnings headwinds,' GM's robust financial results have eased concerns and increased investor confidence.
• Emphasis on advancements in electric vehicle production within the earnings report probably influenced the positive market response, highlighting GM's dedication to innovation and sustainability in the automotive sector.

10.08.2024 - GM Stock was down 5.2%

• GM's plans to manufacture hybrid-flex vehicles in Brazil were overshadowed by concerns arising from delays in finalizing a significant deal with Lithium Americas, potentially impacting investor confidence negatively.
• The advancements made by Alphabet's Waymo and GM's Cruise in autonomous vehicle technology may have underscored challenges within GM's own autonomous driving endeavors, influencing investor perception adversely.
• The competitive landscape in the electric vehicle sector, particularly with Tesla's cutting-edge offerings like the Cybertruck, could be prompting GM to hasten its electric vehicle projects, leading to investor uncertainty.
• Overall, despite GM's growth over the past year, recent setbacks and competitive pressures likely contributed to the stock's bearish performance today.

12.08.2024 - GM Stock was up 5.1%

• GM's bullish movement can be attributed to exploring collaboration with Hyundai Motor and expanding its partnership with EVgo for installing fast-charging stalls in major U.S. metropolitan areas, indicating a strategic focus on the growing EV market.
• The potential deal with TDK for US-made Chinese batteries and the memorandum of understanding with Hyundai Motor to explore collaboration on vehicles, supply chain, and clean-energy technologies have likely boosted investor confidence in GM's future prospects.
• The decision to sell the GM Credit Card Business to Barclays as part of Goldman Sachs' refocusing efforts on investment banking and trading businesses may have also positively influenced GM's stock performance by streamlining operations and enhancing profitability.

25.08.2024 - GM Stock was down 6.0%

• Analysts have revised their price targets for GM, with a notable reduction by Morgan Stanley from $47 to $42, indicating a bearish sentiment.
• Despite being considered a great growth stock with above-average financial growth, concerns about valuation have led to a downgrade by a Bernstein analyst.
• The comparison between GM and another company in the sector raises questions about GM's value proposition, potentially impacting investor sentiment.
• The news about Tesla and Chinese EV startups outpacing traditional automakers like GM in critical software for electric vehicles could have also contributed to the bearish movement, highlighting potential challenges for GM in the EV market.

25.08.2024 - GM Stock was down 5.1%

• Analysts shifted their stance on automakers, favoring dealers and parts companies over GM.
• Wall Street analysts revised GM's price target downwards.
• GM faced a bearish market movement despite being a growth stock with above-average financial growth.
• Market comparisons against competitors may have impacted GM's stock performance.

22.10.2024 - GM Stock was up 5.1%

• General Motors' recent uptrend may be linked to its potential entry into the Formula One racing grid by 2026, sparking interest among investors in the company's growth prospects in the racing industry.
• Cost-cutting efforts, such as layoffs and plans to trim expenses by $2 billion by 2024, are viewed favorably as proactive measures to enhance efficiency and profitability, also contributing to the positive momentum.
• Contrasting Ford's reduction in its European workforce due to weak demand for electric vehicles, General Motors' strategic decisions seem to have reinforced investor confidence in the company's positioning and overall direction, driving the stock's upward movement.

22.09.2024 - GM Stock was up 9.2%

• GM reported Q3 earnings and revenue that surpassed estimates, with adjusted earnings per share of $2.96 beating expectations and quarterly sales of $48.757 billion exceeding analyst consensus.
• The company raised its annual profit outlook due to growing consumer demand, indicating a positive outlook for future performance.
• The market reacted positively to GM's strong financial performance and optimistic guidance, driving the stock price higher.
• Investors are likely encouraged by GM's ability to deliver solid results and its confidence in sustaining earnings strength into the next year.

23.06.2024 - GM Stock was down 6.0%

• GM shares dropped after disclosing a surprising loss in China and taking a $600 million charge for its struggling Cruise autonomous vehicle unit, impacting investor confidence.
• The indefinite pause in production of the Cruise Origin autonomous vehicle suggests a shift in focus towards the Chevrolet EV Bolt, potentially causing uncertainty among investors about GM's future in the autonomous vehicle market.
• Delays in the 2024 Buick EV and the EV pickup plant opening being pushed to 2026 could have contributed to the negative sentiment surrounding GM stock, as investors may be concerned about the company's ability to meet its electric vehicle production targets.
• The overall negative news flow surrounding GM, including delays and financial losses, likely led to the bearish movement in the stock price today.

23.06.2024 - GM Stock was down 6.1%

• GM shares dropped after the company reported second-quarter financial results, which might have disappointed investors.
• The delay in the release of the 2024 Buick EV and the postponement of the EV pickup plant opening to 2026 could have contributed to the negative sentiment surrounding the stock.
• The closure of Cruise, General Motors' self-driving car division, also added to the downward pressure on the stock.
• Despite an increase in GM's stock price target and a reiteration of its rating on EV production outlook, the overall market movement remained bearish due to company-specific news.

08.07.2024 - GM Stock was up 5.7%

• GM's bullish movement could be attributed to the positive sentiment surrounding the company's position as one of the best EV stocks under $50.
• The industry-wide airbag recall affecting several manufacturers, including GM, might have caused investors to reevaluate the company's safety standards and potentially resulted in increased confidence in GM's vehicles.
• The insider sale of shares by the EVP & GM of Flash Business at Western Digital Corp (WDC) may have shifted investor focus towards GM, leading to increased buying activity and driving the stock price higher.
• With growing competition in the EV market and concerns over Tesla's overvaluation and operational challenges, investors may be turning to established players like GM for more stable investment opportunities, contributing to the bullish movement in GM's stock.

02.07.2024 - GM Stock was down 5.2%

• The bearish movement in GM's stock today could be attributed to several factors:
• Tesla's market share plunge and increasing competition in the EV industry may have raised concerns among investors about GM's position in the market.
• The news about Kia outselling GM in EVs could have highlighted GM's potential challenges in keeping up with competitors in the rapidly evolving EV market.
• The overall optimism around EV charging stocks and the projected growth in the EV industry might have shifted investor focus away from traditional automakers like GM, impacting its stock performance.
• The combination of these factors may have led to a negative sentiment towards GM's stock, resulting in the bearish movement observed today.