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

What is General Motors Company?

General Motors (GM) is a well-known American multinational corporation that designs, manufactures, markets, and distributes vehicles and vehicle parts. Today, the stock had a strong bullish movement amidst various developments in the electric vehicle and clean energy sectors.

Why is General Motors Company going up?

GM stock is up 5.1% on Sep 12, 2024 17:40

• 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.

GM Price Chart

GM News

GM Eyes US-Made Chinese Batteries In Deal With Japan's TDK: Report - General Motors ( NYSE:GM )

General Motors Company GM shares are trading higher after the firm agreed to explore collaboration with Hyundai Motor and expand its partnership with EVgo by installing 400 fast-charging stalls at key locations in major U.S. metropolitan areas.

https://www.benzinga.com/markets/equities/24/09/40839765/gm-eyes-us-made-chinese-batteries-in-deal-with-japans-tdk-report

Hyundai and GM Sign Memorandum of Understanding to Explore Collaboration on Vehicles, Supply Chain and Clean-Energy Technologies - General Motors ( NYSE:GM ) , Hyundai Motor ( OTC:HYMTF )

Hyundai Motor and GM to investigate joint product development, manufacturing and future clean energy technologies Both companies to target improved efficiencies and increased competitiveness through collaboration

https://www.benzinga.com/pressreleases/24/09/n40828038/hyundai-and-gm-sign-memorandum-of-understanding-to-explore-collaboration-on-vehicles-supply-chain-

General Motors ( GM ) Stock Dips While Market Gains: Key Facts

In the closing of the recent trading day, General Motors (GM) stood at $44.67, denoting a -0.33% change from the preceding trading day.

https://www.zacks.com/stock/news/2334897/general-motors-gm-stock-dips-while-market-gains-key-facts

Goldman Near Selling GM Credit Card Business: Will It Benefit GS?

GS nears closing a deal to sell GM Credit Card Business to Barclays. This move is a part of the company's efforts to refocus on IB and the trading business.

https://www.zacks.com/stock/news/2334868/goldman-near-selling-gm-credit-card-business-will-it-benefit-gs

Behind the Scenes of General Motors's Latest Options Trends - General Motors ( NYSE:GM )

Investors with a lot of money to spend have taken a bearish stance on General Motors GM. We noticed this today when the trades showed up on publicly available options history that we track here at Benzinga. Whether these are institutions or just wealthy individuals, we don't know.

https://www.benzinga.com/insights/options/24/09/40817079/behind-the-scenes-of-general-motorss-latest-options-trends

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General Motors Company Price History

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.

23.06.2024 - GM Stock was down 5.9%

• GM stock faced a bearish movement likely due to the Cruise self-driving unit's decision to focus on a next-generation Chevrolet Bolt rather than the futuristic Origin vehicle. This shift in development strategy may have raised concerns among investors about the company's long-term vision and competitiveness in the autonomous vehicle market.
• An announcement advising investors not to sell GM stock post-earnings might have added to the bearish sentiment, as it could have created uncertainty and mixed signals among traders.
• A delay in integrating Apple CarPlay into Rivian EVs, a competitor in the electric vehicle market, could have also impacted GM's stock negatively, as it may signal potential challenges for GM in keeping up with technological advancements and consumer preferences in the industry.
• Despite the negative movement today, GM's decision to prioritize the Chevrolet Bolt for self-driving technology development could be a strategic move to ensure a more practical and market-ready product, which might benefit the company in the long run.

23.06.2024 - GM Stock was down 6.7%

• GM shares are trading lower after the company reported second-quarter financial results and announced delays in its EV projects, indicating potential challenges ahead.
• The delay in the 2024 Buick EV and EV pickup plant opening to 2026 might have raised concerns among investors about GM's future growth prospects.
• This news, coupled with the overall bearish sentiment in the market today, likely contributed to the significant downward movement in GM's stock price.
• Investors should closely monitor how GM addresses these challenges and navigates the evolving landscape of the electric vehicle industry to make informed decisions regarding their investments in the company.

23.06.2024 - GM Stock was down 5.2%

• Today's bearish movement in GM's stock can be attributed to a combination of factors:
• GM's decision to slow down its electric vehicle (EV) plans, including delaying the construction of a second electric U.S. truck plant and the launch of Buick's first EV.
• Despite reporting impressive financial results, including net income of $2.9 billion and raising guidance for the full year.
• The average vehicle price nearing $50,000 and the 15% rise in profits.
• The positive movement in Ford's stock, in sympathy with GM's strong earnings.

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.

23.06.2024 - GM Stock was down 6.4%

• GM's decision to put its self-driving vehicle without a steering wheel on hold may have disappointed investors, signaling a potential setback in their autonomous driving ambitions.
• Despite reporting a jump in profit and beating earnings expectations, GM's stock experienced a bearish movement, possibly due to concerns about the shift in focus from the futuristic Origin vehicle to the next-generation Chevrolet Bolt.
• The positive earnings report might have been overshadowed by the uncertainty surrounding the company's autonomous driving strategy, leading to a sell-off in GM's stock.
• The news about hyperloop stocks accelerating transportation may have diverted investor attention away from traditional automotive companies like GM, contributing to the bearish market movement.

23.06.2024 - GM Stock was down 5.4%

• Despite General Motors surpassing earnings and revenue expectations for Q2 2024, the stock saw a bearish movement, possibly due to profit-taking by investors anticipating higher results.
• Halting production of the self-driving Cruise Origin robotaxi in favor of focusing on the next-generation Chevrolet Bolt may have caused concern among investors regarding the company's autonomous vehicle strategy.
• While GM secured a contract from the Canadian Armed Forces for modern light tactical vehicles, this positive development might not have been sufficient to counterbalance the overall market sentiment influencing the bearish stock movement.
• The general upward trend of US stocks today did not notably affect GM's stock performance, indicating that company-specific updates were more influential in the bearish trend.

23.06.2024 - GM Stock was down 6.4%

• Despite surpassing expectations for earnings and revenue in Q2 2024, GM faced a decline in the stock market.
• Analysis of GM's earnings results by a former CEO from another automotive company may have concerned investors, leading to a negative impact on the stock.
• The attention on electric vehicles as a topic of discussion in politics likely influenced the market's view of GM, especially considering the growing competition in the EV segment.
• The announcement of GM Defense Canada securing a contract with the Canadian Armed Forces may not have been sufficient to counterbalance the overall market sentiment towards the stock.
• The choice to discontinue the Cruise Origin autonomous car lacking a steering wheel may have prompted questions about GM's future strategies and investments in advanced technologies, potentially contributing to the downward trend in stock performance.

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.