Stock Alert: General Motors Jumps 6% On H1 Outlook

Shares of General Motors Co. (GM) are trading 6 percent up on Thursday as the company said it expects first-half results to be significantly better than the earlier given outlook. This is because of maximum utilization of chips and pull-ahead of expected semiconductor deliveries in the second quarter.

The company had earlier expected adjusted EBIT of around $5.5 billion in the first half of 2021.

The company said that it would be increasing deliveries to customers and dealers in the U.S and Canada to meet the high demand for Chevrolet, Buick, GMC and Cadillac vehicles.

GM is currently trading at $63.41, up $3.77 or 6% on the NYSE. The stock has traded between $23.33 and $63.58 during the past 52 weeks.

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