GM's Cruise Mistake and Why I Sold GM Stock

General Motors (NYSE: GM) recently announced it is ending its Cruise robotaxi business in order to focus on autonomous driving for personal vehicles. That changes the stock's investment thesis, as Travis Hoium covers in this video.

*Stock prices used were end-of-day prices of Dec. 17, 2024. The video was published on Dec. 19, 2024.

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*Stock Advisor returns as of December 16, 2024

Travis Hoium has positions in Lyft, Mobileye Global, and Uber Technologies. The Motley Fool has positions in and recommends Tesla and Uber Technologies. The Motley Fool recommends Bayerische Motoren Werke Aktiengesellschaft, General Motors, Mobileye Global, and Volkswagen Ag and recommends the following options: long January 2025 $25 calls on General Motors. The Motley Fool has a disclosure policy. Travis Hoium is an affiliate of The Motley Fool and may be compensated for promoting its services. If you choose to subscribe through their link they will earn some extra money that supports their channel. Their opinions remain their own and are unaffected by The Motley Fool.