GM’s stock soars toward the biggest post-earnings gain in 6 years

GM’s stock soars toward the biggest post-earnings gain in 6 years

Shares of General Motors Co. GM, +7.44% shot up 7.4% in active morning trade Wednesday, putting them on track for the biggest one-day post earnings gain in six years. Earlier, GM reported third-quarter earnings that were well above expectations, as it swung to a net profit of $2.5 billion from a loss of $3.0 billion a year ago. The last time the stock rose more after an earnings report was Oct. 31, 2012, when the stock jumped 9.5%. On the day after the previous 24 earnings reports, the stock had gained 13 times by an average gain of 3.5%, and declined 11 times by an average of 2.7%. GM’s stock has declined 12% year to date, while the S&P 500 SPX, +1.21% has gained 1.6%.

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