GM shares surge after record earnings and new stake in lithium company. 🇺🇸

in stocks •  2 years ago  (edited)

Breaking News : The Recession has been cancelled.

The Stock Market Bull is back baby.

Stocks soaring again.
Did you buy the bottom ?

Welcome back to the Roaring twenties … Boom times are here again.

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General Motors reported a much stronger than expected fourth-quarter profit, lifting full-year results to record levels for the second straight year.

The largest US automaker also said Tuesday it is buying a $650 million equity stake in Lithium Americas, which will give it access to the raw material needed to build batteries to power 1 million electric vehicles a year in the first phase of production.

For the quarter, GM earned adjusted earnings of $3 billion, or $2.12 a share, up from $1.35 a share a year earlier and far better than forecasts of $1.69 a share from analysts surveyed by Refinitiv. That lifted full-year adjusted income to $11 billion, up from the $10.4 billion it earned in 2021, which had been its previous record.

Shares of GM (GM) soared 5% in pre-market trading on the results.

Source: https://www.cnn.com/2023/01/31/investing/gm-earnings/index.html


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  ·  2 years ago  ·  

Finally. Some good news.