24/7 Wall St. Insights General Motors Co. (NYSE: GM) third-quarter U.S.
The Investment Committee debate the latest Calls Of The Day and Jim Lebenthal responds to Sarat Sethi selling out of General Motors
GM agrees to pay a $1.5 million fine after failing to fully report a crash involving a pedestrian.
General Motors reported a 2.2% fall in third-quarter sales of its new vehicles in the United States on Tuesday, pressured by fewer sales days in the three-month period and lower customer spending due to inflation.
GM reported slightly better-than-expected sales during the third quarter, thanks in part to increases in sales of electric vehicles and small crossovers. The Detroit automaker reported a 2.2% drop in third-quarter sales compared to a year earlier to 659,601 vehicles sold.
Sell covered calls on GM for a potential 22.7% annualized return, with GM trading at $44.75 and March's $45.00 calls priced at $4.30. Earn $479 profit from call premium, stock appreciation, and dividends on a $4,475 investment if GM trades above $45.00 by March 21. Profit even if GM stays below $45.00, down to a net stock price of $40.21, reducing risk through covered calls.
Sarat Sethi, Managing Partner at DCLA, joins CNBC's "Halftime Report" to explain why he's selling GM after holding it for over 5 years.
The National Highway Traffic Safety Administration said Monday that General Motors' self-driving car unit Cruise will pay a $1.5 million fine after it failed to disclose details of a serious October 2023 crash involving a pedestrian.
Wondering how to pick strong, market-beating stocks for your investment portfolio? Look no further than the Zacks Style Scores.
General Motors stock is trading at an incredibly low 4.8x FWD P/E, presenting a significant value opportunity despite current market conditions. GM has consistently beaten EPS and sales estimates over the past two years, and growth on both the top and bottom line is expected to continue. Management has retired over 300 million shares since early 2022, which is incredibly accretive for shareholders at this price.
General Motors will recall 18,235 commercial vehicles in the United States over an issue with brake lines, the National Highway Traffic Safety Administration said on Thursday.
General Motors is a strong buy with a target price of $89, driven by its EV expansion and cost control. Interest rate cuts should boost demand as financing becomes cheaper and consumer confidence increases. GM's dominance in the US market, bolstered by strong sales in trucks, SUVs, and fleet vehicles, positions it well for future growth.