GM Shares Soars 1% Following General Motors Conference Where It Unveils New Products

Friday 15 January 2021, 12:46 AM AEST - 5 days ago

General Motors investors are arguably betting big on the companys stock as the firm is set to spinoff about five new products beginning from this year.

American multinational vehicle manufacturing company General Motors Company (NYSE: GM) has just recently wrapped up its CES Technology Conference where it unveiled an array of its futuristic products, and the firms shares are bouncing up in response. As reported by CNBC, the shares of General Motors opened Wednesday to a new all-time high at $50 per share and the stock closed the trading session with a 1.90% surge to $48.73 per share.

The CES Technology Conference which was conducted virtually had in attendance the companys Chief Executive Officer (CEO), Mary Barra, and other executives unveiled the firms future plans, especially in relation to its proposed new products.

The CEO noted that the essence of the product presentations is to promote confidence in the firms business while it works to ensure it delivers on its zero-emission in transportation, congestion, and crashes, its Triple-Zero vision.

We believe investors should prepare for a profound narrative change at GM put into action in 2021, Morgan Stanley analyst Adam Jonas wrote in a note to investors Tuesday. There is a lot more to come in terms of rolling out independent business units with its own management teams, technological domains, and go-to-market strategies.

General Motors have a current market capitalization of $69.75 billion

Here Are the Products General Motors Unveiled that Have Impact on GM Shares

General Motors investors are arguably betting big on the companys stock as the firm is set to spinoff about five new products beginning from this year. The high tech products include the next generation of Electric Vehicles (EVs), a new EV commercial vehicle and logistics business unit called BrightDrop, the concept flying taxis, Ultium batteries, and Autonomous Vehicles.

General Motors has slowed down plans to launch its EV series in 2020 against mounted expectations. The company unveiled its flagship Cadillac Celestiq built to include a new glass roof made of smart glass that allows each occupant to set their own transparency levels. Per the details of the CES Tech conference, General Motors also ...

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