General Motors (GM) NewsBite - GM Opens Second Plant in India

Posted on Tuesday, September 02, 2008 2:41 PM

General Motors (NYSE: GM) opened at $10.47. So far today, the stock has hit a low of $10.45 and a high of $10.80. GM is now trading at $10.42, up $0.42 (4.18%). The stock hit its 52-Week high of $43.20 in October and set its 52-Week low of $8.81 in July. General Motors announced it opened a second plant in India today, boosting its production capacity in the country from 85,000 to 225,000 vehicles a year. Technical indicators for the stock are neutral and S&P gives GM a neutral 3 STARS (out of 5) hold ranking. If you are looking for a hedged play on GM the stock seems like it could be a candidate for an October out-of-the-money bull-put credit spread below the 7.50 range. [ABR-Seven Summits Strategic Investments NewsBite]