Big Day for GM, Big Month for Ford
GM shares are up over 12 percent today after posting a smaller than expected quarterly loss. If it closes up more than 10.06 percent today, GM stock will have its best 1-day percentage gain since May 4, 2005. Hovering around $24, the stock is currently trading at its highest level in 2 months.
It hasn’t been a bad month for GM either. The stock is the best performer on the Dow Jones Industrial Average in April, posting a 26 percent gain this month. (The second-best performer on the Dow is Citigroup , which is up 19 percent.)
Think that’s a big jump? GM isn’t alone. Ford is up a monumental 46 percent this month (!) and is the second biggest percentage gainer on the S&P 500 in April. Ford’s gains this month have moved its stock to the highest levels since last November.
Unlike their U.S. counterparts, foreign automakers have had less impressive stock performance numbers in April. For the month, Toyota up 1.5 percent, Daimler down 9.2 percent.