GM Stock Reaches Four-Year High
General Motors (GM) is one of the top-performing stocks on Wall Street today, following a positive earnings report. The company's stock has risen 12.1% to $65, with adjusted third-quarter earnings of $2.80 per share and $48.60 billion in revenue, both exceeding estimates.
GM has also revised its full-year guidance and reduced the expected impact of tariffs to between $3.5 billion and $4.5 billion. The stock is on track for its best single-session gain since March 2020, reaching a four-year high of $65.64.
After two consecutive weekly losses, the shares were supported by their 80-day moving average. Now, GM has filled the gap and is nearly 20% higher year to date. Analyst revisions are expected to follow.
The auto stock is on track for its best single-session gain since March 2020.
The company's strong performance has led to a significant increase in its stock price, making it one of the best names on the New York Stock Exchange (NYSE) today.
Author's summary: GM stock soars to four-year high.