“A Natural Home”: General Motors Soars 15% in a Week on Its Nasdaq Switch and Hybrid Pivot

Gian Estrada

Sat, October 31, 2026 at 1:38 PM EDT 3 min read

"A Natural Home": General Motors Soars 15% in a Week on Its Nasdaq Switch and Hybrid Pivot ©@Benjamin44 from Getty Images Pro via Canva, @contrastaddict from Getty Images Signature via Canva

Key Takeaways

General Motors stock rose 15% in a week on its Nasdaq move and a push into hybrid SUVs.
A US-Canada tariff deal could save GM real money, but rising commodity costs cloud 2027.
GM still trades near its five-year average P/E, with its 2027 outlook due in late January.

General Motors (GM:NYSE) stock is up 15% in the past week, while the Nasdaq Composite fell 2%.

Ford (F:NYSE) gained 5.6% over the same stretch and raised the low end of its 2026 profit outlook on Oct. 28.

GM Wants a Seat Next to the Tech Stocks

GM said on Oct. 27 that its stock will trade on Nasdaq from Nov. 17, which makes it eligible for the Nasdaq-100. CFO Paul Jacobson called Nasdaq "a natural home for our listing as we grow."

GM becomes the first legacy automaker on Nasdaq, and joining the Nasdaq-100 would force index funds to buy it. The index is reshuffled each December, and GM's switch should land in time. Walmart moved too late last year and had to wait until January.

Hybrids Come Back to Lansing

Reuters reported on Oct. 27 that GM plans hybrid versions of its three-row SUVs, and GM said the same day it will prepare its Lansing Delta Township plant for hybrid production. After $7.4 billion of EV-related cash charges, that looks to me like a cheaper way to win back buyers.

TIKR Tracks 24 Analysts on General Motors. How Many Say "Buy"?

See the full breakdown of Buy, Hold, and Sell ratings on General Motors, along with Wall Street's revenue and earnings estimates, all in one place. More than 500,000 investors use TIKR to research stocks like this one. See General Motors' Analyst Ratings

A Tariff Break Would Be Real Money

President Trump predicted at a rally on Oct. 25 that the trade dispute with Canada would be resolved "soon." GM expects tariffs to cost it the low end of $2.5 billion to $3.5 billion this year, against guidance for about $15 billion of adjusted EBIT.

Ford shows the other side. It lifted its 2026 adjusted EBIT floor to $10.5 billion despite commodity costs approaching $2.5 billion, but expects 2027 profit roughly in line with this year. Will GM say the same?

Still Cheap, With a Big Test in January

Analysts expect GM's normalized EPS to climb from $10.60 in 2025 to $16.10 in 2028, with buybacks doing most of the work after this year:

GM Normalized EPS Estimates: 2024-2029 (TIKR)

Nothing this week moves those estimates yet, though a Canada deal could.

Even after the run, GM trades at about 6x forward earnings, near its five-year average of 5.8x:

At this price, GM's new $20 billion buyback authorization can retire stock cheaply, and the $101 consensus target sits about 16% above Friday's close.