General Motors Co (NYSE:GM) stock is 4.1% lower to trader at $71.97 at last glance, after the automaker reported a 9.7% year-over-year drop in fiscal first quarter sales. The company warned of higher oil prices, which could squeeze demand, as well as economic uncertainty, higher borrowing costs, and vehicle prices.
GM just marked its first monthly gain in three, but snapped a three-quarter winning streak. Shares are down 11.4% so far in 2026 and last week failed to conquer their 40-day moving average. Now, the equity is testing $72, which has been a floor since a pullback from its Feb. 4, all-time high of $87.62.
Should the stock continue to struggle, overdue bear notes could weigh. Of the 28 brokerages covering GM, 19 maintain "buy" or better ratings, while the consensus 12-month price target of $93.77 is a 30.5% premium to its current perch.
Options traders have been much more bearish than usual. This is per the security's 10-day put/call volume ratio of 1.87 at the International Securities Exchange (ISE), Chicago Board Options Exchange (CBOE), and NASDAQ OMX PHLX (PHLX) that sits higher than 96% of annual readings.
Options look like an attractive route when weighing on the stock's next moves, per its Schaeffer's Volatility Index (SVI) of 37% that sits higher than 24% of readings from the past year. In other words, near-term option traders are now pricing in low volatility expectations.
