Hummer • General Motors • GMC • Electric vehicles • Trams

GM shares close at new year-to-date high following Hummer EV debut

Shares of General Motors closed Thursday at their highest price so far this year following the successful debut Tuesday of the new GMC Hummer EV as well as the automaker’s announcement earlier in the week of more than $2 billion in new U.S. investments to support electric vehicles.

The stock settled at $37.41 a share, rising 4.6% for the day and pushing the price up 2.2% year to date. That was just enough to drive the shares into the black for the first time since Jan. 2. The stock has jumped by 11.8% this week through Thursday. If it continues at that pace, this week will be one of the top five weeks of the year for the stock, according to FactSet data. The stock’s 52-week high was $38.96 on Nov. 12.

Several Wall Street analysts complimented GM during an investor presentation Wednesday about the Hummer EV, which debuted Tuesday night, but no major research firms have upgraded their price targets yet.

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