Stock Of The Day: GM Earnings Fuel Breakout, Shares Accelerate Past Key Resistance Level
GM(GM) Benzinga·2024-10-23 03:15
The Street loves General Motors Company’s GM earnings. The stock is rallying and appears to be breaking out.This is why Benzinga has made it the “Stock of the Day.”When a stock is heading higher, the market is out of equilibrium. There isn't enough supply to fill all the demand. In other words, there are more buy orders than there are sell orders.As a result, investors and traders who wish to acquire shares are forced to bid premiums to draw sellers into the market. They need to be willing to pay a higher p ...