Even though I bought GM shares at the beginning of summer I am very tempted to sell. The stock has been on a steady rise since then so I will be able to scrape some profit by selling.
Generally I invest long term but I admit I was seduced by a steady rising streak of the stock and a good opinion of it in the investor circles. What got me to change my mind and consider dumping is that a lot of factors are against the auto industry right now. The semiconductor crisis looks to be far from over and GM hasn’t proven itself to be anywhere near the top of the market in transitioning towards electric vehicles. I'm not saying that GM will go under or that the stock will radically drop, but when we count in the factors that I’ve stated earlier, it is safe to say that a much better option at this point is to invest my money in companies that are not in this sector.
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