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GM shares hit new record on plans for electric Chevy Silverado pickup

CNBC
Michael Wayland 15 hrs ago

  • Shares of GM achieved a new record during intraday trading Tuesday following the automaker confirming plans to produce an all-electric Chevrolet Silverado pickup.

  • GM's stock is up about 50% this year, fueled by a steady pace of announcements regarding the company's plans for electric vehicles.


Shares of General Motors closed at a new record Tuesday after the automaker confirmed plans to produce an all-electric Chevrolet Silverado pickup at an assembly plant for EVs that's under construction in Detroit.

The automaker's stock closed up 1.5% at $61.94 a share, setting a new closing record, after hitting an intraday high of $63.44 earlier Tuesday. Both the closing and intraday prices were all-time records since the automaker emerged from bankruptcy at the tail end of the Great Recession and started publicly trading again in 2010. GM's market cap is $89.25 billion.

The performance of GM's stock this year, up roughly 50%, has been driven by a steady array of announcements related to electric vehicles. It's also validating comments made last month by GM CEO Mary Barra about the stock's future potential.

"I think as the market begins to see all of the assets and resources General Motors brings to this transformation, I think we're just at the beginning of where you'll see GM's stock move," she said in an online discussion March 11 during The Economic Club of New York's Women in Business event.

The electric Silverado is part of a previously announced $2.2 billion investment in the plant to produce an array of its next-generation EVs beginning later this year.

Confirmation of the Silverado EV came days after the automaker unveiled a new SUV version of its upcoming GMC Hummer EV.

Earlier this year, the company also announced a new all-electric commercial vehicle division called BrightDrop. It also announced plans to exclusively offer electric vehicles by 2035.

The new vehicles are part of GM's plan to release 30 new EVs globally by 2025 under a $27 billion investment in electric and autonomous vehicles during that time frame. The company plans to sell at least 1 million EVs annually by then.

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Best bit of General Motors news l have heard on here in ages, a bright light now shines in this horrible dark covid days. No wonder GM shares are hitting new record highs. When will l be able put my deposit down on one?

Sunny days happy days ahead all the way, absolutely fantastic news thank you GM.
 

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GM needs to bring back their dividend. Ford as well.
 
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MB will go down as one of the greatest leaders in the Automotive industry once their EV transition is complete. While the switch in focus definitely lead to a drought of desirable ICE products in the waning days of the GM ICE age, her team recognized the change earlier than most of the other major automakers and put them in the best position possible to be an industry leader in EVs early on...by early on, I mean they're most likely to be the first major to have a majority EV lineup sooner than everyone else with their 25 EVs by 2025.

Being said, I just wished they did more w/ ICE before the cutover...would've been nice to see some VSS-Rs specifically a RWD V8 Corvette branded crossover, sedan, and a proper XT6 - but I totally get the point of not developing a new RWD ICE platform for just a single generation, they did it once w/ Omega, it would've been foolish to do it again.
 

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So apparently GM, sorry gm, has taken a page out of Tesla's book and is just dropping random EV news to make their stock shoot up. When is MB going to start tweeting? How many press releases and tweets to get gm's stock up to Tesla territory?
 
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So apparently GM, sorry gm, has taken a page out of Tesla's book and is just dropping random EV news to make their stock shoot up. When is MB going to start tweeting? How many press releases and tweets to get gm's stock up to Tesla territory?
Or lighting up a spliff during an interview...I'd pay to see that.
 

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GM needs to bring back their dividend. Ford as well.
I would rather see GM focus on growth and being competitive. Stock is doing far better without.


So apparently GM, sorry gm, has taken a page out of Tesla's book and is just dropping random EV news to make their stock shoot up. When is MB going to start tweeting? How many press releases and tweets to get gm's stock up to Tesla territory?
GM stock is still cheap compared to the market. It's basically worthless compared to Tesla.

People need to understand what GM has both in EV and autonomous technology. If tweets are the way to get word out to investors in 2021 - so be it!
 

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First-quarter sales up 69% in China from low pandemic levels might be helping too.

 
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So apparently GM, sorry gm, has taken a page out of Tesla's book and is just dropping random EV news to make their stock shoot up. When is MB going to start tweeting? How many press releases and tweets to get gm's stock up to Tesla territory?
The difference here is GM can build cars and trucks in the quantities that Tesla can only currently dream about. GM's development time with Ultium will be greatly reduced. They are promising 30 new electric cars by 2025 and I have no doubt they can do it.
 

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The difference here is GM can build cars and trucks in the quantities that Tesla can only currently dream about. GM's development time with Ultium will be greatly reduced. They are promising 30 new electric cars by 2025 and I have no doubt they can do it.
Tesla has some serious corporate "optics" issues that need to be worked out...all of the product announcements, followed by a flurry of deposits then eventual and seemingly inevitable "delays" have caused some like me to sour a little on the Tesla brand. Combine that with the little stories of **** that isn't on the up and up (duplicate payments, etc), you'll see that Tesla has a lot of cleaning up to do.

One thing that Tesla does have over GM at the moment is European penetration...Tesla is selling in Europe in numbers GM could only dream of right now.
 

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I would rather see GM focus on growth and being competitive. Stock is doing far better without.
That money is going into your electric future.
If GM prefers to be a tech stock that's fine, but... they eliminated the dividend because of the pandemic. As the pandemic abates(and they're currently quite profitable) they need to share with their long term investors if they don't intend to bring the dividend back and see where the stock shakes out. Same story with Ford and many others.
 
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The difference here is GM can build cars and trucks in the quantities that Tesla can only currently dream about. GM's development time with Ultium will be greatly reduced. They are promising 30 new electric cars by 2025 and I have no doubt they can do it.
Yes, Detroit knows how to make stuff.. unlike Silicon Valley, that knows how to manipulate stocks
 

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GM had a great 1Q in Canada including Cadillac’s record best 1Q sales figures at 3,753 total sales. The previous 1Q sales record was set in 1979. As Cadillac sales in Canada were up nearly 85% over 1Q 2020.

I would tell you the site where I got that info. But I am not the authority here.
 

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GM had a great 1Q in Canada including Cadillac’s record best 1Q sales figures at 3,753 total sales. The previous 1Q sales record was set in 1979. As Cadillac sales in Canada were up nearly 85% over 1Q 2020.

I would tell you the site where I got that info. But I am not the authority here.
[/QUOTE

Is this still beefing with the other site? So 2020...
 

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When are they going to start building new nuclear power plants to meet the upcoming demand??? Seriously, where is all this additional electrical power supposed to come from?
 

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When are they going to start building new nuclear power plants to meet the upcoming demand??? Seriously, where is all this additional electrical power supposed to come from?
Inside your house's garage at night ;) :D But then............................
 

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When are they going to start building new nuclear power plants to meet the upcoming demand??? Seriously, where is all this additional electrical power supposed to come from?
No nuclear plants. Fossil fuel burning plants will generate the electricity just like always. Except they'll need hundreds of new ones by 2035 to power all those new GM EVs.

If GM can figure out how to make money on EV's under $100k they might actually be profitable in 2035 or they'll be looking for another bailout. A business plan with no profit potential doesn't look too good and that's what they currently have. That and a lot of prayers.
 

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If GM prefers to be a tech stock that's fine, but... they eliminated the dividend because of the pandemic. As the pandemic abates(and they're currently quite profitable) they need to share with their long term investors if they don't intend to bring the dividend back and see where the stock shakes out. Same story with Ford and many others.
It's not just "tech companies" that don't pay a dividend.

I think a small dividend would be ok but I definitely don't want to see the telephone company - like 5% yield again.
 

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GM needs to bring back their dividend. Ford as well.
I thought it would have happened already, but with the EV spend, semiconductor and Covid uncertainty, I understand their reluctance.

So apparently GM, sorry gm, has taken a page out of Tesla's book and is just dropping random EV news to make their stock shoot up. When is MB going to start tweeting? How many press releases and tweets to get gm's stock up to Tesla territory?
Yeah, like this was big news, we knew an EV Silverado was coming, and other than Hamtramck, where else would they build it?

First-quarter sales up 69% in China from low pandemic levels might be helping too.
And didn't make 2-dimes............


GM had a great 1Q in Canada including Cadillac’s record best 1Q sales figures at 3,753 total sales. The previous 1Q sales record was set in 1979. As Cadillac sales in Canada were up nearly 85% over 1Q 2020.

I would tell you the site where I got that info. But I am not the authority here.
Hard to believe that is the high, but they do now have 3 CUV's along with the Escalade.

Up 85% over last year, is meaningless..........

When are they going to start building new nuclear power plants to meet the upcoming demand??? Seriously, where is all this additional electrical power supposed to come from?
Unicorns!

It's not just "tech companies" that don't pay a dividend.

I think a small dividend would be ok but I definitely don't want to see the telephone company - like 5% yield again.
GM's dividend was big, because it's stock was so low (single digit P/E).
 
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I'd like to know why the Silverado will have "more than 400" miles of range, but the much more expensive Hummer will only get "more than 300" miles....
The shorter wheelbase of the Hummer SUV only has room for a 20 module battery pack. That is why the range is only 300+ miles and only 830hp. The Hummer SUT is longer and can hold 24 modules and has a 350+ mile range and 1000hp.

The Silverado will be as long or longer than the Hummer (short and long bed versions are rumored), and also more aerodynamic. Also, GM has mentioned that Ultium will power vehicles to over 450 miles. They could be sandbagging the Silverado range estimate for now. Or some other vehicle is going to hit 450+.
 
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