Shocking News for General Motors Stock

By Travis Hoium – Nov 29, 2023 at 2:19PM

NYSE: GM

General Motors

Market Cap

$52B

Today's Change

(0.42%) $0.19

Current Price

$46.03

Price as of April 29, 2024, 2:16 p.m. ET

A buyback plan could acquire 25% of GM's outstanding stock.

General Motors (GM 0.42%) announced this morning that it's buying back $10 billion of stock, including $6.8 billion by the end of the week. This continues the company's rapid buybacks and gives an indication of where management sees the company going in the future.

In this video, Travis Hoium covers the shocking news and covers why GM could be the best auto stock to buy today, including its high-profile EV rivals.

*Stock prices used were end-of-day prices of Nov. 29, 2023. The video was published on Nov. 29, 2023.

Travis Hoium has positions in General Motors. The Motley Fool has positions in and recommends Tesla. The Motley Fool recommends General Motors and recommends the following options: long January 2025 $25 calls on General Motors. The Motley Fool has a disclosure policy. Travis Hoium is an affiliate of The Motley Fool and may be compensated for promoting its services. If you choose to subscribe through their link they will earn some extra money that supports their channel. Their opinions remain their own and are unaffected by The Motley Fool.