Why General Motors Stock Is Higher Today
Shares of General Motors (NYSE: GM) were moving higher Tuesday on news that the company is making progress in rebuilding its U.S. inventories. A highly anticipated product reveal scheduled for Wednesday also added to investors' enthusiasm.
As of 11:45 a.m. ET, GM's shares were up about 6.2% from Monday's closing price.
GM, like most other global automakers, was forced to curtail production in 2021 amid supply chain challenges fueled by the COVID-19 pandemic. The company reported its fourth-quarter U.S. sales on Tuesday morning, and while they were down sharply from the year-ago period (as expected), there was some good news behind the headline numbers: GM's inventories are improving.
Source Fool.com
