GM smashes expectations by more than DOUBLE. - (but I say Hell NO ! to Self-driving cars)

 

Stock Talk
 

General Motors blew out earnings expectations by the more than DOUBLE beating by the expected quarterly eps of $1.02 to report a whopping $2.25 a share.

 Much of the earnings came from sales of ICE. That is short of what they call "Internal Combustion engines" vehicles versus EV's.  However , GM is now producing EV's and has big plans to go all electric by 2035.

 Back in October 2020, I posted this about the ev space...

"Electric vehicles are coming on. Tesla has worked its way as the leader and is currently trading at $431 per share after the split. The TSLA eps is listed as 0.39 and a PE of a whopping 1,118.  General Motors (GM) trades as $36 with an eps of $1.06 and a PE of 34."

 

That was when GM was at $36.  Today, GM is at $58 ish.

Further, GM has big plans to deliver an electric vehicle for Fed Ex called the EV600.    My personal view of GM as a stock?

I like what GM is doing with the exception of too much focus on self driving cars that I am not a fan of and will NEVER trust them enough to be driven in one. I realize that is contrary to populist belief and all the hype gurus. But once a self-driving car takes people down a one way road the wrong way, deaths will happen and the lawsuits will fly.  And this time the fancy pants screaming lawyers you see on TV won't be going after individuals with liability caps on insurance policies. The Car companies will be paying out huge settlements and opinions of self-driving cars will shift to LOUSY idea.  They are all doing this self driving car crap so I will not hold it against GM.

With yesterday's earnings smash - I hold some GM to see.  

The chip shortage was downplayed by GM even though some productions have been shuttered.

This IBD article describes the  current status of GM in the auto space very well.

https://www.investors.com/news/gm-earnings-q1-2021-gm-stock/

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ALL in my humble opinion, scroll down and read more..

This site does NOT make Buy / Sell recommendations.
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