General Motors board approved a $10 billion stock buyback of the company stock. Actually it was an additional move that pushes the total to that level.
This at a time when the industry is facing massive disruption.
In this video I discuss how GM and Tesla constrast. One is likely the future while the other is the past.
▶️ 3Speak
WOW General Motors ist so cool unterwegs.
Aber ich sage immer Noch Tesla wird nicht weltmarktführer vorher esse Ich alles an PIZZA, !LOLZ and !HYPNO
It is a sad state where the once great GM (General Motors) is heading towards.
We will see where it is going. Disruption always brings a great deal of uncertainty.
Those who are at the forefront of it tend to survive.
There are instances when the company buys back their stocks when they consider it undervalued, and are preparing for something big. I hope this is the case, and we can see them turn things around.
Certainly there are valid reasons for doing it. Mostly it is like a situation with an apple where they have so much money and dont really have anything to spent it upon.
Of course, in this era with the cost of AI development, I am not sure that is the case for anyone who wants to be in business going forward. This does depend upon the industry but technology companies are taking over.