Our Q&As are emailed in our Saturday Morning Report, find the answer to this question below.
Hi MM Team, Thank you for your guidance in this volatile market. I just want to ask what your thoughts are on General Motors (GM). It had a really good run over the past 12 months and the PE still seems low. Just wondering what your thoughts are on the future prospects of the stock. Thank you and kind regards, Sue.
Hi Sue,
GM has enjoyed a stellar rally through 2024 but on 5.1x its still cheap compared to recent history. GM stock enjoyed its best day since 2020 after the automaker topped analysts 3rd quarter expectations on the 22nd and raised guidance:
This is the 3rd time this year that GM has updated guidance and although its rallied hard the advance looks well justified to us. Also GM CFO Paul Jacobson reassured Wall Street that the company would continue returning cash to shareholders in the form of stock buybacks, it all sounds positive, plus it’s EV sales are surging while Ford losses billions in the rapidly evolving space.
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