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- 1 GM stock gained 6.71% in the last three months and 24.58 in a year.
- 2 General Motors has acquired Algolion Ltd., the Israel-based startup, for an undisclosed amount.
General Motors is gaining ground in the EV market, with reports stating that Tesla Inc. (NASDAQ: TSLA) could lose its share. GM Stock has risen by 1.40%. As per the recent Bank of America (BofA) Car Wars report, the EV giant Tesla could lose its market share to Ford Motor Co. (NYSE: F), General Motors Co. (NYSE: GM), and Stellantis (NYSE: STLA) in the next four years.
General Motors Co. (GM Stock) – Financial Analysis
General Motors announced on June 30, 2023, that it has acquired an Israel-based software startup, Algolion Ltd. This acquisition would help the Detroit automaker in detecting battery problems. Furthermore, it would bring a cost-effective early hazard detection system for EV batteries. The timing of this deal is crucial as automakers are pouring billions of dollars into making electric vehicles and developing batteries. GM might gain some benefits in this race as a result of this acquisition.
General Motors Co., Ford Motors and Tesla Inc. came together for a partnership to ensure that over 60% of EVs currently running on American roads have access to Tesla’s North American Charging Standards (NACS), thereby making the NACS a primary charging network for electric vehicles in the United States.
Cassia Capital Partners LLC bought new positions in the company in Q1 2023 by adding 5,783 shares to its portfolio, amounting to a value of $212k. LGT Group Foundation decreased its position in the company by 76.1% in Q1 2023 by selling 49,266 GM shares, and its current holdings are worth $567k. Naturally, when a significant stakeholder sells a substantial portion of their shares in a company, it garners attention. Experts are trying to decipher the causes behind such a move and also their aftereffects on the GM stock price.
At press time, GM stock is trading at $38.96 with a jump of 1.40%. Its previous close and open were at $38.56 and $38.74, respectively. The 52-week range is between $30.36 to $43.63. The trailing twelve-month (ttm) price-to-earnings (P/E) ratio is 6.14, indicating that the stock price is undervalued. At the same time, the earnings per share (EPS) is $6.35.
With an average volume of 13.15 million shares, the market cap comes to $54.159 billion. Analysts placed a 2.56 rating for moderate buy and estimated a price target at $49.81 with a 27.9% upside. GM stock rallied 8.13% in a week, 15.75% in a month and 24.58% in a year. In comparison, the YTD growth is 14.54%.
The last earnings were reported on April 25, 2023, where the revenue was reported to be $39.985 Billion. It surpassed the estimated value of $38.55 billion with a difference of $1.435 billion, a jump of 3.72%. The (ttm) revenue comes up to $160.74 billion, and the quarterly gain in revenue is 11.73%, which is equivalent to $39.99 billion.
Operating expenses jumped by 15.65$ to $2.46 billion, and operating margin (ttm) gained 7.49%. Net income dropped 18.51% to $2.40 billion, while the net profit margin declined by 26.88% to 5.99, and the profit margin gained 5.84%. Total cash in hand at the end of the most recent quarter (mrq) was $23.81 billion, and total debt (mrq) was $116.83 Billion.
General Motors Co. (GM Stock) – Candle Exploration
GM stock had a breakout in May 2023 after following a descending trendline since February 2023. The current price is above the immediate support level. If the price is above $36.52, the chances of entering the supply zone is high. A relatively flat EMA indicates stability, and the RSI value of 69.32, being in the overbought zone, foreshadows a short drop.
If the price falls below the immediate support level, it shall consolidate above the demand zone. Furthermore, a breakthrough is likely only if something terrible happens in the market. The price is expected to consolidate in an ascending order, and might gradually reach the supply zone.
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The views and opinions stated by the author, or any people named in this article, are for informational purposes only and do not establish financial, investment, or other advice. Investing in or trading crypto assets & stocks comes with a risk of financial loss.
Andrew is a blockchain developer who developed his interest in cryptocurrencies while pursuing his post-graduation major in blockchain development. He is a keen observer of details and shares his passion for writing, along with coding. His backend knowledge about blockchain helps him give a unique perspective to his writing skills, and a reliable craft at explaining the concepts such as blockchain programming, languages and token minting. He also frequently shares technical details and performance indicators of ICOs and IDOs.
