General Motors Company’s (GM - Free Report) car-sharing operation, Maven, is taking initiatives to expand its partnerships in ride and delivery services, per a Reuters report. Maven has decided to do so because its parent, General Motors, is mulling over entering the on-demand mobility business, which is presently controlled by Uber Technologies and Lyft Inc.
However, Maven has already taken steps to pull out from Lyft, in which General Motors holds a 9% stake. With its own Gig leasing business, Maven can now offer the automaker ride-sharing drivers.
Maven also has been accumulating knowhow and expertise. This could eventually enable General Motors to provide on-demand mobility services like Uber and Lyft. In fact, like other automakers, General Motors is now experimenting with several on-demand services, from peer-to-peer car sharing to fractional ownership, through Maven.
In the last one month, General Motors’ shares have outperformed the industry it belongs. Its shares have increased 10.1%, whereas the industry grew 7.6%.
General Motors currently carries a Zacks Rank #3 (Hold).
A few better-ranked automobile stocks are Fox Factory Holding Corp. (FOXF - Free Report) , Cummins Inc. (CMI - Free Report) and Ferrari N.V. (RACE - Free Report) , each carrying a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Fox Factory has a long-term growth rate of 16%.
Cummins has an expected long-term earnings growth rate of 12%.
Ferrari has an expected earnings growth rate of 14.1% in the long run.
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Zacks Names "Single Best Pick to Double"
From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all.
It’s a little-known chemical company that’s up 65% over last year, yet still dirt cheap. With unrelenting demand, soaring 2022 earnings estimates, and $1.5 billion for repurchasing shares, retail investors could jump in at any time.
This company could rival or surpass other recent Zacks’ Stocks Set to Double like Boston Beer Company which shot up +143.0% in little more than 9 months and NVIDIA which boomed +175.9% in one year.
Free: See Our Top Stock and 4 Runners Up >>
General Motors Company’s (GM - Free Report) car-sharing operation, Maven, is taking initiatives to expand its partnerships in ride and delivery services, per a Reuters report. Maven has decided to do so because its parent, General Motors, is mulling over entering the on-demand mobility business, which is presently controlled by Uber Technologies and Lyft Inc.
However, Maven has already taken steps to pull out from Lyft, in which General Motors holds a 9% stake. With its own Gig leasing business, Maven can now offer the automaker ride-sharing drivers.
Maven also has been accumulating knowhow and expertise. This could eventually enable General Motors to provide on-demand mobility services like Uber and Lyft. In fact, like other automakers, General Motors is now experimenting with several on-demand services, from peer-to-peer car sharing to fractional ownership, through Maven.
In the last one month, General Motors’ shares have outperformed the industry it belongs. Its shares have increased 10.1%, whereas the industry grew 7.6%.
General Motors currently carries a Zacks Rank #3 (Hold).
A few better-ranked automobile stocks are Fox Factory Holding Corp. (FOXF - Free Report) , Cummins Inc. (CMI - Free Report) and Ferrari N.V. (RACE - Free Report) , each carrying a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Fox Factory has a long-term growth rate of 16%.
Cummins has an expected long-term earnings growth rate of 12%.
Ferrari has an expected earnings growth rate of 14.1% in the long run.
One Simple Trading Idea
Since 1988, the Zacks system has more than doubled the S&P 500 with an average gain of +25% per year. With compounding, rebalancing, and exclusive of fees, it can turn thousands into millions of dollars.
This proven stock-picking system is grounded on a single big idea that can be fortune shaping and life changing. You can apply it to your portfolio starting today.
Learn more >>
Zacks Names "Single Best Pick to Double"
From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all.
It’s a little-known chemical company that’s up 65% over last year, yet still dirt cheap. With unrelenting demand, soaring 2022 earnings estimates, and $1.5 billion for repurchasing shares, retail investors could jump in at any time.
This company could rival or surpass other recent Zacks’ Stocks Set to Double like Boston Beer Company which shot up +143.0% in little more than 9 months and NVIDIA which boomed +175.9% in one year.
Free: See Our Top Stock and 4 Runners Up >>
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