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GM Shares Soar on Electric-Vehicle Spin-Off Speculation

  • Automaker’s CEO didn’t rule out possibility on recent call
  • Idea contemplated recently, reviving 2018 internal discussion
Updated on

General Motors Co. shares continued their climb toward a three-month high after a Deutsche Bank analyst speculated the automaker could spin off its electric-vehicle operations to create more value.

The stock pared a gain of as much as 3.7% in early trading Tuesday, rising 0.9% to $30.26 as of 10:10 a.m. in New York -- the highest level since June 8. That followed a 7.7% jump on Monday, its biggest one-day increase since May. Deutsche Bank’s Emmanuel Rosner wrote in a report the automaker could be worth as much as $93 a share if GM spins out its electric-vehicle business.