Is General Motors (GM) Stock a Buy After Its 7% Earnings Drop?
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TLDR General Motors (GM) stock fell 1.3% on Wednesday, a day after a 7% drop on third-quarter earnings. GM posted $3.70 adjusted profit per share on $50.02 billion in revenue and approved a $20 billion buyback. EV sales dropped 43% to 82,000 units through Q3, and GM wrote down more than $11 billion. GM plans hands-off, eyes-off highway driving on the Cadillac Escalade IQ in 2028. RBC, Barclays and Morgan Stanley cut targets, while Citi holds a $131 target. General Motors (GM) stock fell 1.3% on Wednesday, while the S&P 500 rose 0.6%. Based on the 41.9% upside tied to the $108 average target, the stock trades near $76. General Motors Company, GM The drop followed a 7% slide on Tuesday after third-quarter results .
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