Stock Track | General Motors (GM) Soars 5.01% as Hopes of F1 Entry Revived

Stock Track11-23 00:54

General Motors (GM) stock surged 5.01% during Friday's pre-market trading session, likely driven by renewed optimism surrounding the company's potential entry into Formula One racing as a team owner and constructor.

According to reports, a GM-backed bid from Andretti Global to join F1 as an 11th team in 2026 is now looking more viable after being previously rejected by the sport's owners Liberty Media. Multiple sources indicated that the landscape has changed, with Andretti Global handing over day-to-day operations to business partner Dan Towriss and Liberty Media's long-time CEO Greg Maffei stepping down by year-end.

Significantly, current F1 teams appear more open to the prospect of a new entry, provided it adds value and helps grow the sport's popularity and revenue. Mercedes boss Toto Wolff stated that a GM-backed team would be a "different story" and teams would not oppose it if it proves beneficial for F1.

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