General Motors Stock

Taxpayers and workers brought GM out of bankruptcy, yet it is the hedge funds that will reap the biggest rewards. Taxpayers and workers should demand that open-market repurchases by all companies be banned. Stock buybacks manipulate the stock market and leave most Americans worse off. In this case, it is clear that what is good for the hedge funds is bad for the United States.

general motors stock

The Automotive-Domestic Industry is in the top 36% of over 250 Zacks Industries and two stocks investors may consider buying out of the group are General Motors GM and Ford Motor Company F.

For now, Ford appears to be the better stock at least for the short term. GM currently lands a Zacks Rank #4 (Sell) with its earnings estimate revisions trending down. Ford on the other hand is seeing some growth in its top and bottom line for this year and FY23. Ford currently lands a Zack Rank #3 (Hold) and also offers investors a higher dividend yield at the moment.

The current consensus among 26 polled investment analysts is to Buy stock in General Motors Co. This rating has held steady since March, when it was unchanged from a Buy rating.Move your mouse over pastmonths for detail

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After a bruising year for businesses and automakers, in particular, General Motors wrapped up 2022 by reclaiming a crucial title and growing its domestic vehicle sales. Despite all this, GM stock is cheaper than it ought to be.

Rising costs are already starting to cut into margins as Ford has already prepared investors for an additional $1 billion in supply chain costs, causing its stock to plunge. The automaker says parts shortages and rising input costs affect high-margin segments such as trucks and SUVs.

The auto supply chain was decimated during the pandemic and has yet to recover. As a result, GM and Ford stock prices rose to all-time highs as shortages drove new vehicle prices up, leading to higher margins. Analysts believe the situation may flip in the coming months.

UBS downgraded Ford stock to sell while lowering GM to a neutral rating. The analysts were much more upbeat about EV leader Tesla, saying the automaker will likely continue its aggressive growth by taking cost-cutting measures.

Senator Hendrickson. Well now, I am interested to know whether if a situation did arise where you had to make a decision which was extremely adverse to the interests of your stock and General Motors Corp. or any of these other companies, or extremely adverse to the company, in the interests of the United States Government, could you make that decision?

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Albemarle (ALB), a lithium supplier for EV batteries to Tesla and other EV companies, is on IBD Leaderboard while SQM (SQM), another lithium play on global EV adoption, belongs to the IBD 50 list of top growth stocks.

GM stock was added to the IBD SwingTrader list on Thursday as it broke above a recent downtrend. It's probably the best-looking EV stock right now, above key technical levels while Tesla is far below.

Shares of General Motors advanced 4.3% to 39.70 on the stock market today. GM stock topped a 40.20 buy point from a cup-with-handle base intraday, regaining its 200-day moving average. It closed below the entry but held above the 200-day line.

After the Chapter 11 filing, effective Monday, June 8, 2009, GM was removed from the Dow Jones Industrial Average and replaced by Cisco Systems. From Tuesday June 2, old GM stock has traded Over the Counter (Pink Sheets/OTCBB), initially under the symbol GMGMQ[11] and subsequently under the symbol MTLQQ.

On July 10, 2009, a new entity completed the purchase of continuing operations, assets and trademarks of GM as a part of the 'pre-packaged' Chapter 11 reorganization.[12][13] As ranked by total assets, GM's bankruptcy marks one of the largest corporate Chapter 11 bankruptcies in U.S. history. The Chapter 11 filing was the fourth-largest in U.S. history, following Lehman Brothers Holdings Inc., Washington Mutual and WorldCom Inc.[14] A new entity with the backing of the United States Treasury was formed to acquire profitable assets, under section 363 of the Bankruptcy Code, with the new company planning to issue an initial public offering (IPO) of stock in 2010.[15] The remaining pre-petition creditors claims are paid from the former corporation's assets.[12][15]

$GM was delisted from the NYSE. Beginning June 2, GM stock traded on the Pink Sheets OTC market under the symbol GMGMQ. On July 15, the stock symbol was changed to MTLQQ ("Motors Liquidation Company").

Despite these developments, the organization expressed optimism in the future success of a "new GM".[2] On July 10, 2009, after an auction process and approval by Judge Gerber concluded, GM's continuing operational assets and trademarks were transferred to the sole bidder, a primarily government-owned entity called "NGMCO Inc.",[60] which upon sale assumed the name General Motors Company.[12][50][61] The purchase was supported by $50 billion in U.S. Treasury loans, giving the U.S. government a 60.8% stake. The Queen of Canada, in right of both Canada and Ontario, held 11.7% and the United Auto Workers, through its health-care trust (VEBA), a further 17.5%. The remaining 10% was held by unsecured creditors.[62]In other words, a company called "NGMCO Inc.", financed by the U.S. Treasury,[13] Canada, and a labor union, purchased the desirable assets of "old GM" via the bankruptcy process,[60] thus renaming it to "General Motors Company" and forming a "new GM". This marked the emergence of a new operation from the "pre-packaged" Chapter 11 reorganization.[12][50][61] The claims of former stakeholders and remaining pre-petition creditors of "old GM" would be handled by the "Motors Liquidation Company",[50][61][12][63] with the new company planning to issue an initial public offering (IPO) of stock in 2010.[15] The directors of Motors Liquidation Company stated that they believed shares in the "old" GM would eventually have no value since the company had far more debts than assets.

Management continues to remind investors of its strong belief that there will be no value for the common stockholders in the bankruptcy liquidation process, even under the most optimistic of scenarios. Stockholders of a company in chapter 11 generally receive value only if all claims of the company's secured and unsecured creditors are fully satisfied. In this case, management strongly believes all such claims will not be fully satisfied, leading to its conclusion that the common stock will have no value.

None of the publicly owned stocks or bonds issued by the former General Motors Corporation (now renamed "Motors Liquidation Company"), including its common stock formerly traded on the New York Stock Exchange under the ticker symbol "GM", are or will become securities of General Motors Company (the "new GM"), which is an independent separate company. All of these securities relate to Motors Liquidation Company, and will be treated in accordance with the provisions of the U.S. Bankruptcy Code and the rulings of the Bankruptcy court.

DETROIT, Feb. 1, 2023 /PRNewswire/ -- General Motors Co. (NYSE: GM) announced today that its Board of Directors has declared a first quarter 2023 cash dividend on the company's outstanding common stock of $0.09 per share payable Thursday, March 16, 2023, to all common shareholders of record as of the close of trading on Friday, March 3, 2023. 041b061a72