GM Stock Is a Great Buy After Earnings
Earlier this month, General Motors (NYSE: GM) warned that supply chain constraints would weigh on its second-quarter results. The ongoing global semiconductor shortage forced the U.S. auto giant to build about 95,000 vehicles without certain components last quarter, delaying shipments to dealers.
On Tuesday, the company reported Q2 results toward the lower end of its updated guidance range. Investors were displeased, sending GM stock down more than 3% and leaving it trading for roughly half the price it fetched in early January.
The General certainly does face short-term headwinds. But investors aren't giving the company enough credit for either its near-term resilience or its long-term upside potential. That makes GM stock a great buy today.
Source Fool.com
