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Why Is GM Stock Rising Despite Plunging Vehicle Deliveries?

TheMotleyFool

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Why Is GM Stock Rising Despite Plunging Vehicle Deliveries?

The global semiconductor shortage and other supply constraints had their biggest impact yet on the auto industry in the third quarter. General Motors (NYSE: GM) wasn't immune. On Friday, the top U.S. automaker reported that domestic-vehicle deliveries plunged by a third last quarter.

Nevertheless, GM stock rose 0.8% on Friday. It gained another 1.6% on Monday, a down day for the market. Let's take a look at why investors don't seem concerned about the sharp drop in the General's U.S. delivery figures.