Why This Top Stock Rocketed 15% Higher Tuesday
It hasn't been a smooth year for most automakers. Companies such as General Motors (NYSE: GM) have had to adjust global strategies to offset U.S. tariffs on imported vehicles and automotive parts, and have had to prepare for a slowdown in electric vehicle (EV) sales in the fourth quarter after the $7,500 federal tax credit was removed at the end of September. Don't tell General Motors to be gloomy, though -- despite the headwinds the company just posted strong third-quarter results that drove its stock 15% higher Tuesday.
Thanks to a strong sales mix heavy on full-size trucks and SUVs, along with rising sales, General Motors delivered a strong third quarter of earnings and cash flow. GM recorded its highest third-quarter market share since 2017 in the U.S. market and its restructured China business once again reached profitability.
Image source: General Motors.
Source Fool.com
General Motors Corp Aktie
Leichtes Buy-Überwiegen bei General Motors Corp im Vergleich zu Sell-Einschätzungen.
Für General Motors Corp ergibt sich ein leicht positives Potenzial, angesichts eines Kursziels von 81 € im Vergleich zu 75.75 €.
