Company Of The Day: General Motors
What?
General Motors (NYSE:GM) will boost its ownership stake in autonomous vehicle startup Cruise to 80%, as it plans to buy out Softbank Vision Fund’s stake for $2.1 billion.
Why?
Relevant Articles
EVs and autonomous driving are the two biggest trends in the auto industry and by buying out Softbank’s stake, GM will have greater control over Cruise.
So What?
GM stock gained about 3% in Friday’s trading.
See Our Complete Analysis For General Motors
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| Returns | Mar 2022 MTD [1] |
2022 YTD [1] |
2017-22 Total [2] |
| GM Return | -4% | -24% | 29% |
| S&P 500 Return | 2% | -6% | 99% |
| Trefis MS Portfolio Return | 2% | -8% | 262% |
[1] Month-to-date and year-to-date as of 3/21/2022
[2] Cumulative total returns since the end of 2016
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