Why Shares of General Motors Are Rising Today
Shares of General Motors (NYSE: GM) were rising at midday on Monday, amid a broad-based market rally on signs that the economic impact of the coronavirus pandemic might not be quite as bad as feared.
As of 12:30 p.m. EDT today, GM's shares were up about 7.3% from Friday's closing price.
GM reported its first-quarter U.S. sales last week, and they weren't bad: While overall sales were down 7% from the same period in 2019, sales of GM's mainstay full-size pickups were up a combined 32%. Not only are those very profitable sales for GM, but the strength of the new-last-year Chevrolet Silverado 1500 and GMC Sierra 1500 also bodes well for GM's business once the economy starts to recover.
Source Fool.com
