Shares of General Motors (NYSE: GM) were hit hard last month after the company missed analysts’ revenue expectations for the second quarter. The company reported earnings of $0.58 per share — which actually came in above consensus projections — but the 1% increase in automotive revenue raised a major red flag for investors. The day before General Motors released its Q2 numbers, the stock closed at $37.40. Today, investors are able to pick up shares at a 10% discount to that price. On a positive note, it appears that the stock may have… Read More
Shares of General Motors (NYSE: GM) were hit hard last month after the company missed analysts’ revenue expectations for the second quarter. The company reported earnings of $0.58 per share — which actually came in above consensus projections — but the 1% increase in automotive revenue raised a major red flag for investors. The day before General Motors released its Q2 numbers, the stock closed at $37.40. Today, investors are able to pick up shares at a 10% discount to that price. On a positive note, it appears that the stock may have found support as the stock hit a new post-earnings low on Friday, followed by a rally on Monday. While the disappointment in revenue is certainly worth taking note of, it is fair to say that General Motors has faced some tremendous challenges over the past few months, mainly relating to recalls of vehicles with faulty ignition switches. The bad press the company has received is certainly weighing on the company’s ability to sell cars, and yet GM was still able to post a year-over-year increase in automotive sales. Read More