General Motors Company (GM Quick QuoteGM - Free Report) shares ended the last trading session 7.5% higher at $65.74. The jump came on an impressive volume with a higher-than-average number of shares changing hands in the session. This compares to the stock's 2.2% gain over the past four weeks.

General Motors’ optimistic outlook for 2022 vehicle sales has driven the stock price. Yesterday, the company stated that it expects economic growth in the United States and improving semiconductor availability to help it grow sales and market share this year. Investors are also appreciative of the U.S. auto giant’s massive electrification push.   

This company is expected to post quarterly earnings of $0.95 per share in its upcoming report, which represents a year-over-year change of -50.8%. Revenues are expected to be $29.35 billion, down 21.8% from the year-ago quarter.

While earnings and revenue growth expectations are important in evaluating the potential strength in a stock, empirical research shows a strong correlation between trends in earnings estimate revisions and near-term stock price movements.

For General Motors Company, the consensus EPS estimate for the quarter has remained unchanged over the last 30 days. And a stock's price usually doesn't keep moving higher in the absence of any trend in earnings estimate revisions. So, make sure to keep an eye on GM going forward to see if this recent jump can turn into more strength down the road.

The stock currently carries a Zacks Rank 2 (Buy). You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>>