Why GM's Stock Is Trading Higher Today

General Motors Company GM shares are trading higher following reports suggesting the company is restarting production in five plants closed due to chip shortage.

On April 8, GM announced plans to temporarily idle or extend downtimes at several plants in North America due to an ongoing semiconductor chip shortage impacting the global automotive industry.

GM designs, builds, and sells cars, trucks, crossovers, and automobile parts worldwide. The company operates through GM North America, GM International, Cruise, and GM Financial segments.

GM's stock was trading 3.9% higher at $60.35 per share at the time of publication. The company has a 52-week high of $63.44 and a 52-week low of $23.33.