Why General Motors Stock Is Stepping On The Gas Today

General Motors Co GM is trading higher Thursday after the company announced plans to double its annual revenue and expand margins to 12% to 14% by 2030.

At General Motors' investor meetings, the company detailed how its hardware and software platforms will combine to create growth, expand margins, add customers and diversify revenues.

"We will achieve this by growing our core business of designing, building, and selling world-class ICE, electric and autonomous vehicles, growing software and services with high margins and entering and commercializing new businesses," said Paul Jacobson, executive vice president and CFO of General Motors.

“GM has changed the world before and we’re doing it again,” said Mary Barra, chair and CEO of General Motors. “We have multiple drivers of long-term growth and I’ve never been more confident or excited about the opportunities ahead.”

GM Price Action: General Motors has traded as high as $64.30 and as low as $30.30 over a 52-week period.

The stock was up 3.98% at $56.07 at time of publication.

Photo: courtesy of General Motors.