Mary Barra is the CEO of General Motors (GM). She spoke at a news conference in Detroit on April 15, 2024.
GM is doing well this year. It is making more money than expected. GM’s stock price is up by 54.7%. This is better than its rivals, like Tesla, Lucid, and Rivian.
Analysts from BofA Securities say, “GM keeps on trucking,” showing confidence in the company after it beat earnings expectations. GM has bought back $12.4 billion in stock to help its market value. GM’s performance is better than Ford and Chrysler’s parent company Stellantis.
Ford’s stock is down by 10%. In comparison, GM’s stock is rising. Even with Tesla’s recent growth, GM still leads the market.
GM has not lowered its goals for 2024, unlike many other car makers. Other companies, like Nissan and Volkswagen, are cutting jobs and lowering production.
Since Barra became CEO in January 2014, GM’s stock average is about $38 per share. GM hopes to keep performing well in 2025. The average target price for GM stock is $59.85, according to Wall Street estimates.
Vocabulary List:
- Analysts /ˈænəˌlɪsts/ (noun): Individuals who examine and interpret data for insights.
- Performance /pərˈfɔːrməns/ (noun): The act of performing or how well something operates.
- Stock /stɑːk/ (noun): Shares of a company owned by shareholders.
- Market /ˈmɑːrkɪt/ (noun): A place or system where goods and services are exchanged.
- Expectations /ˌɛkspɛkˈteɪʃənz/ (noun): Beliefs about what will happen in the future.
- Production /prəˈdʌkʃən/ (noun): The process of creating goods and services.
