Why is General Motors stock up today?
$General Motors(GM.US$ is up another 3.02% and carved out a new 52-week high of $65.07 earlier in the session.
While the auto stock has not quite seen the explosion in investor interest on $Tesla(TSLA.US$, $Rivian Automotive(RIVN.US$ and $Lucid Group(LCID.US$ , shares of GM are now up 50% YTD as it continues to attract steady attention for its electrification upside. GM is tracking toward a market cap of over $100B.
Earlier this week, Wedbush Securities called GM an EV transformation story heading into 2022.
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Brain Gomes : Grand opening of Factory Zero producing Electric Hummer Pickup.
President Biden drove the Hummer and gave the speach.
GM built Factory Zero in 20 months.
Hummer Pickup will roll out by year end.
The Ultium era begins !
arts food business : Guess I'm an old fashion pragmatist, but GM has the factories, the work force and the design teams in place. One question I have is warranty, maintenance and repair require a massive infrastructure, what happens 6 months after you purchase your lucid or any other start up EV. I'm holding GM long, I do "play" a small percentage of my portfolio in higher risk areas, automobile start ups are generally not one of those. Just some thoughts, for what they're worth
Oavbab : It's called sympathetic movement.
Long F.
Rickydi : Its up because it is grossly underpriced by the market. I just do not know why the market thinks an ICE business making billions to fund EVs along with existing factories and long term trained work force to switch over at appropriate times from ICE to EVs is such a bad thing.
zukG4HQuCI : All GM needs is a slick new name.
How about General Electric Motors(GEM)
O15Cbt1QkM zukG4HQuCI: Ready Kilowatt!
RjqRwaUMHM : It's a tech start up company that doesn't need an IPO. Revolutionary new concept. They sell legacy internal combustion cars to fund future expansion. Go Ultium.