General Motors Company (GM - Free Report) was a big mover last session, as the company saw its shares rise almost 13% on the day. The move came on solid volume too with far more shares changing hands than in a normal session. This continues the recent uptrend for the company—as the stock is now up 18% in the past one-month time frame.
The move came after the company announced that SoftBank Vision Fund will invest $2.25 billion in GM Cruise Holdings LLC. This is expected to further reinforce the AV technology.
The company has seen one negative estimate revision in the past month, while its Zacks Consensus Estimate has also moved lower over the said time period, suggesting there may be trouble down the road. So make sure to keep an eye on this stock going forward, to see if this recent move higher can last.
General Motors currently has a Zacks Rank #2 (Buy), while its Earnings ESP is positive.
Investors interested in the Automotive - Domestic industry may consider Harley-Davidson, Inc. (HOG - Free Report) , which has a Zacks Rank #2. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Is GM going up? Or down? Predict to see what others think: Up or Down
More Stock News: This Is Bigger than the iPhone!
It could become the mother of all technological revolutions. Apple sold a mere 1 billion iPhones in 10 years but a new breakthrough is expected to generate more than 27 billion devices in just 3 years, creating a $1.7 trillion market.
Zacks has just released a Special Report that spotlights this fast-emerging phenomenon and 6 tickers for taking advantage of it. If you don't buy now, you may kick yourself in 2020.
Click here for the 6 trades >>