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Bernstein downgraded GM stock to Market Perform from Outperform and cut its price target slightly to $53 from $54.50. GM shares were down over 2% in early trading on Monday.
GM stock hit a 52-week high of $61.24 in December and is up 47% year to date — far ahead of its Big Three peers. Ford's stock is down 15% in 2024, while Stellantis shares have dropped nearly 40%.
Investors are dumping GM's stock in the wake of earnings. Here's one likely reason why.
Shares of the automaker, which recently forecast that a strike by autoworkers this fall would cut pretax earnings by about $800 million this year, were down about 0.3% on Wednesday.
The bear phase in shares of General Motors Company (NYSE:GM) may finally be over. After the stock closed at 52-week lows at the end of October, a strong quarterly earnings report and a ...
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That changes the stock's investment thesis, as Travis Hoium covers in this video. *Stock prices used were end-of-day prices of Dec. 17, 2024. The video was published on Dec. 19, 2024.
Strong earnings weren't enough to impress GM investors today. For premium support please call: 800-290-4726 more ways to reach us