Is This Speed Bump Why Warren Buffett Dumped General Motors Stock?
Back when cross-town rival Ford Motor Company (NYSE: F) threw the towel in on Argo AI, its project to directly develop autonomous driving vehicles, General Motors (NYSE: GM) seemed to be doubling down on its Cruise start-up. Investors ate it up, myself included, as we saw a bright future for the juggernaut automaker that could combine its growing EV prowess and its majority-owned silicon valley driverless technology start-up.
Fast forward to today, and Cruise is facing serious questions. Is this the speed bump that caused Warren Buffett to dump all his shares of GM? Not so fast -- here's what investors might be missing.
GM's Cruise, which was a big investment to create a robo-taxi service, was anticipated to deliver $50 billion in revenue by 2030. That plan hit a massive pothole when California regulators opened an investigation into the safety of Cruise's self-driving vehicles.
Source Fool.com
General Motors Corp Stock
Currently there is a rather positive sentiment for General Motors Corp with 32 Buy predictions and 5 Sell predictions.
With a target price of 46 € there is a slightly positive potential of 10.39% for General Motors Corp compared to the current price of 41.67 €.
