Cathie Wood Is Warming Up to General Motors (GM) Stock. Here’s Why.

InvestorPlace2022-04-15

Shares of General Motors(NYSE:GM) stock are in the spotlight today following aYahoo! Financeinterviewwith Cathie Wood. Specifically, the Ark Invest CEO said her firm “must not have a closed mind” on ...

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Comments

Gladys8jk
2022-04-17
Gladys8jk
Ok
SCLIEW
2022-04-16
SCLIEW
666
TK360
2022-04-16
TK360
Good Approach, have to relook GM now
RogerLam
2022-04-16
RogerLam
Yes
Bspn
2022-04-15
Bspn
Ok
Steven Tay
2022-04-15
Steven Tay
Ok

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Here’s Why.\n</h2>\n\n<h4 class=\"meta\">\n\n\n2022-04-15 11:13 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://investorplace.com/2022/04/cathie-wood-is-warming-up-to-general-motors-gm-stock-heres-why/><strong>InvestorPlace</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Shares of General Motors(NYSE:GM) stock are in the spotlight today following aYahoo! Financeinterviewwith Cathie Wood. 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The noteworthy investor explained that she is fascinated by how Barra is “really turning that ship around,” citing the CEO’s focus on “cruise automation.”Here’s what investors should know about General Motors and its stock moving forward.Ark Invest CEO Cathie Wood May Invest in GM StockThis recent approval of GM stock seems to contrast with Wood’s comments this past January. Back then, General Motors had debuted its fully electric Silverado truck, which caused GM stock to rally. Cathie Wood called the rally as“ridiculous” because “electric vehicle sales represent only about 2% of traditional automakers’ sales.”Wood has also raised concerns on the low gross margins of traditional automakers. In November, the Ark Invest CEO even went as far as saying that some traditional automakers could go bankrupt in the next five to 10 years due to competition with electric vehicles(EVs). 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Specifically, the agreement will allow GM to obtain cobalt from Glencore’s Murrin Murrin mine in Australia, although details on volume and price have not been disclosed.General Motors is expected to use this cobalt in its proprietary batteries for EV models of the Silverado and Hummer, among others. 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