General Motors Has Surged 37% YTD: More Upside Left?
. General Motors Has Surged 37% YTD: More Upside Left?General Motors (GM) has seen its share price surge 37.3% year-to-date, amid optimism surrounding its plans on the electric vehicle (EV) front and a substantial improvement in its sales. However, because a global semiconductor chip shortage could lead to a halt in automobile production and perhaps temporary plant closures, will the company be able to maintain its growth trajectory? Read more to find out.Shares of one of the world’s largest automobile manufacturers, General Motors Company (NYSE:GM), have advanced 37.3% so far this year on the back of improved domestic and international sales, a resumption in production, and investors’ optimism surrounding the company's plans regarding electric vehicles (EVs). However, its stock price has slumped 1.1% over the past month. Closing yesterday’s trading session at $57.15, GM’s stock is trading 9.9% below its 52-week high.While investors remain optimistic about GM’s ambitious shift to all-electric vehicles and its plans to launch 30 new EVs worldwide by 2025, a global semiconductor shortage could derail the automaker’s production plans. Naturally, such an eventuality could negatively impact the company’s near-term profitability.Click here to check out our Automotive Industry Report for 2021Continue reading on StockNews