General Motors Stock Revs Higher Before Earnings

The stock tends to underperform after earnings

Deputy Editor
Jan 25, 2024 at 1:58 PM
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Auto manufacturer General Motors Company (NYSE:GM) is slated to report earnings before the open on Tuesday, Jan. 30. The Zacks Consensus Estimate for General Motors' fourth-quarter results are earnings of $1.09 per share on revenue of $43.34 billion.

Looking at General Motors stock's earnings history, the stock was lower after five of its past eight post-earnings sessions, including losses after its last three consecutive reports. In the last eight quarters, GM averaged a swing of 3.5%, regardless of direction. This time around, the options market is pricing in a slightly larger move of 5.9%.

Last seen 1.4% higher at $35.18, the equity sports a moderate year-to-date deficit after losing 2% in the week ending Jan. 12. A late-November bull gap on the charts helped the security overcome long-term pressure from its 40-day moving average, and that trendline is helped support GM after it lost five of its last six sessions.

GM Chart January 252024

Amid this underperformance, put traders have taken an increased interest in the stock. This is per General Motors stock's 10-day put/call volume ratio of 1.24 at the International Securities Exchange (ISE), Cboe Options Exchange (CBOE), and NASDAQ OMX PHLX (PHLX), which stands higher than all but 10% of readings from the past year, showing puts being picked up at a much faster-than-usual rate in the last two weeks.  

 

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