May. 11 at 7:22 PM
$GM is officially cutting 500-600 white-collar jobs, mostly in IT. It’s the reality of the current auto landscape—between cooling EV demand and rising investment needs, "belt-tightening" is the only way to protect the bottom line.
Fundamentals remain solid following a strong Q1 beat and raised guidance, though the P/E has crept up to the 20x-30x range after a massive run. Technically, the stock is a beast, up over 60% YoY. Currently hovering around
$75, it’s in a consolidation phase after a major rally. These cuts are a strategic play to align costs with new priorities. If management keeps delivering on margins, the path toward that 52-week high of
$87.62 stays open. Watching this consolidation closely.
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