General Motors Stock Higher on EV Battery Supply Deal

GM sports a more than 47% year-over-year lead

Fernanda Horner

Digital Content Manager

Jan 15, 2025 at 10:38 AM

After ditching its robotaxi unit late last year, General Motors Co (NYSE:GM) is renewing its commitment to electric vehicles (EV). The automaker inked a multi-billion dollar deal with Norway's Vianode for 2027 to 2033, which will supply it with synthetic graphite anode materials for its EV batteries.

GM is up 2.1% to trade at $51.97 at last check, on track for its third-straight gain. Shares sport a 47.9% year-over-year lead, but have remained below the $55 level since gapping lower after their Nov. 25, three-year high of $58.90.

Puts have been more popular than usual in the options pits. GM's 50-day call/put volume ratio at the International Securities Exchange (ISE), Cboe Options Exchange (CBOE), and NASDAQ OMX PHLX (PHLX) ranks higher than 71% of annual readings. Analysts also lean pessimistic, with 13 of the 23 in coverage carrying a tepid "hold" or worse rating.

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