General Motors Stock Surged 65% Over the Past Year. Is Now the Time to Buy?
Key takeaways
- GM ^GSPC NVDA General Motors (NYSE: GM) stock has been a stand-out performer over the past year, beating both the S&P 500 and many of its automotive peers.
- The enthusiasm is driven by GM's current share repurchases and, in my opinion, overly optimistic views of the automotive market.
- In 2009, a "Double Down" signal flashed for a little-known chipmaker called Nvidia.
GM ^GSPC NVDA General Motors (NYSE: GM) stock has been a stand-out performer over the past year, beating both the S&P 500 and many of its automotive peers. The stock has surged 65% in that period, and some analysts believe it could jump 55% from its current level.
The enthusiasm is driven by GM's current share repurchases and, in my opinion, overly optimistic views of the automotive market. Here's what's happening with GM right now, and why I'm not convinced that buying the stock is the right move.
Missed Nvidia in 2009? This Rare Signal Is Flashing Again. In 2009, a "Double Down" signal flashed for a little-known chipmaker called Nvidia. For the first time in years, that same "Total Conviction" signal is flashing for a company 1/100th the size of Nvidia. Continue »