3 Reasons to Buy General Motors Stock Like There's No Tomorrow
General Motors (NYSE: GM) is often overlooked by investors in favor of pure-play electric vehicle stocks. But I would argue that not only is General Motors a cheap stock right now, but it could be the most underrated way to invest in both electric and autonomous vehicles in the entire market. Here are just three of many reasons why General Motors is one of the largest stock positions in my own portfolio, and why I plan to continue to build a position over time.
While GM's ICE (internal combustion engine) pickups and SUVs continue to lead profitability, the company is still in the early stages of developing its EV strategy.
So far, the progress has been impressive. The Hummer EV, Chevy Silverado EV, and Cadillac Lyric SUV are a few examples of products currently on the market. In all, GM delivered 22,000 electric vehicles in the second quarter, representing 40% year-over-year growth, and a market share that is 2.2 percentage points higher than it was a year ago. Several new models are arriving in dealerships later this year, and this could create a long-term tailwind for the business.
Source Fool.com
General Motors Corp Stock
Our community is currently high on General Motors Corp with 36 Buy predictions and 8 Sell predictions.
As a result the target price of 49 € shows a slightly positive potential of 12.49% compared to the current price of 43.56 € for General Motors Corp.
