Is General Motors stock worse than the Nasdaq?

General Motors Company (GM), headquartered in Detroit, Michigan, with a Market cap of $58 billionis a global leader in automotive manufacturing and innovation. Known for its extensive portfolio of vehicles and cutting-edge technologies, GM is focused on providing exceptional mobility solutions through its commitment to sustainability, electrification and advanced technology.

Companies with a market capitalization of $10 billion or more are classified as “large cap stocks,” General Motors is an example of this category. Through the use of advanced engineering, cutting-edge technology and a commitment to electrification, GM delivers reliable and future-proof transportation solutions, offering customers vehicles that combine performance, efficiency and environmental consciousness.

The multinational automotive company fell 13.9% 52-week high of $61.24which it hit on November 25th. GM shares rise 11.2% underperformed the broader Nasdaq Composite over the past three months ($NASX) 16.9% profit in the same period.

Over the long term, GM has delivered a gain of 46.7% on a YTD basis and a gain of 56.2% over the past 52 weeks. In comparison, the NASX is up 31.5% in 2024 and 37% over the same period.

However, GM has consistently traded above its 50-day moving average since early October and above its 200-day moving average over the past year, indicating an uptrend.

On October 22nd, GM Shares rose almost 10% after the publication of his robust Q3 results. Adjusted earnings per share came in at $2.96, beating Wall Street estimates of $2.49 and marking a 28.9% increase from a year earlier. Revenue rose 10.5% to $48.8 billion, beating expectations. Also the car manufacturer has updated its full-year EPS guidance to a range of $10 to $10.50This signals continued confidence in its financial prospects.

General Motors’ competitor, the Ford Motor Company (F) performed significantly worse than GM last year. Ford’s shares have decreased by 13% in 2024 and 3.7% last year, in stark contrast to GM’s double-digit gains over the same period.

Wall Street analysts are cautiously optimistic about GM’s prospects. Of the 25 analysts covering the stock, the consensus rating is a Moderate Buy with one median price target of $60.12indicating a potential increase of 14.1% from current levels.

At the time of publication, Rashmi Kumari did not hold (either directly or indirectly) any positions in any of the securities mentioned in this article. All information and data in this article are for informational purposes only. For more information, please see Barchart’s disclosure policy here. More news from Barchart

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.