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GM data by YCharts. While there were plenty more positive aspects of GM's second quarter, investors might be wondering why the stock was trading roughly 6% lower as of 3 p.m. ET Tuesday.
General Motors just boosted earnings guidance for the third straight time. ... That includes today's move, which saw the stock jump by 10.4% as of 3:10 p.m. ET. ... With a price-to-earnings ratio ...
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%.
Conversely, in a downward trend, a gap occurs when the lowest price of any one day is higher than the highest price of the next day. For example, the price of a share reaches a high of $30.00 on Wednesday, and opens at $31.20 on Thursday, falls down to $31.00 in the early hour, moves straight up again to $31.45, and no trading occurs in between ...
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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.
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"I personally am not happy where the share price is," Barra added. Prior to today's announcement, GM shares had been down about 20% in the past year, compared to a 15% gain for the S&P 500 ( ^GSPC ).