Why Shares of General Motors Are Rising on Thursday Afternoon
Shares of General Motors (NYSE: GM) were rising on Thursday afternoon after rival Ford Motor Company (NYSE: F) cut its dividend and drew down its credit lines. Investors saw it as a sign of strength that GM didn't quickly follow Ford with a cuts of its own.
As of 1:30 p.m. EDT, GM's shares were up about 7% from Wednesday's closing price.
This is one of those times when investors seem to be flocking to the stock of a company that didn't follow the lead of a rival.
Source Fool.com
