EV - GM Stock Rises as Surprises Analysts With a Great Quarter Before the EV Launch Period
GM stock was trading at $36.92 as of 10:58 AM EDT.
General Motors Company ( NYSE:GM ) went up in Tuesday’s early trading after beating Q3 earnings expectations and keeping full-year guidance, even though there were some cost headwinds and production.
CEO Mary Barra spoke with CNBC in an interview where she highlighted the strong demand for trucks, pointing out how inventory levels seem to be normalizing. In an interview with CNBC, Mary Barra (GM CEO) stated that the company is still seeing high demand for trucks and pointed out that inventory levels are normalizing. Wall Street is optimistic about GM’s good outlook, even though there are still problems with the supply chain and limits .
General Motors ( NYSE:GM ) performance in its core and future divisions has led Bank of America to maintain a buy rating on the company. In his long-term analysis of the auto industry, analyst John Murphy ranked General Motors as one of the best-positioned corporations. He also said, “The company is still putting a lot of effort into growing its electric vehicle (EV) business, doing things like making more EVs and making battery cells in-house. In addition to reiterating its positive guidance.
GM stock outlook
Wedbush Securities said that GM’s big EBIT beat and mostly flat top line were much better than what the Street had expected. “This is a crucial time for Barra & Co. because GM will be introducing a variety of EV cars within the coming 12 to 18 months.” For GM, the third quarter’s earnings set a promising tone for the crucial few months to come. Dan Ives is a well-known analyst. Wedbush maintained its buy rating on GM and con...
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