Long Position on GM @ $59.00 on 3/19/2021 (Momentum)

General Motors Company (GM) designs, builds, and sells cars, trucks, crossovers, and automobile parts worldwide.

The company operates through GM North America, GM International, Cruise, and GM Financial segments. It markets its vehicles primarily under the Buick, Cadillac, Chevrolet, GMC, Holden, Baojun, and Wuling brand names.

The company also sells trucks, crossovers, and cars to dealers for consumer retail sales, as well as to fleet customers, including daily rental car companies, commercial fleet customers, leasing companies, and governments.

In addition, it offers safety and security services for retail and fleet customers, including automatic crash response, emergency services, roadside assistance, crisis assist, stolen vehicle assistance, and turn-by-turn navigation, as well as connected services comprising mobile applications for owners to remotely control their vehicles and electric vehicle owners to locate charging stations, on-demand vehicle diagnostics, smart driver, marketplace in-vehicle commerce, connected navigation, SiriusXM with 360L, and 4G LTE wireless connectivity.

Further, the company provides automotive financing services; and operates an online store.

With news on Monday that General Motors was building some light-duty full-size pickups without a fuel management module, shaving a mile per gallon from fuel economy, this could cut up to $2 billion from this year's profits.

Entry Point: $59.00

Trading Range: $17.23 - $62.24

Stop Loss: $56.00

Target Price: $65.00

Position closed on 4/23/2021 at price of $58.00 with a -1.69% loss in 35 days.

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