General Motors Co (NYSE:GM) stock is down 3.2% to trade at $75.44 at last glance, reversing premarket gains despite beating earnings expectations for the first quarter and hiking 2026 guidance, after revenue missed the mark. The car manufacturer announced it will receive a roughly $500 million refund after the U.S. Supreme Court decided to reverse President Donald Trump’s tariffs.
GM is pacing for its seventh-straight loss, and now carries a 7.9% year-to-date deficit. The stock is taking a breather from a rally earlier this month that took it to its highest level since February. The shares are testing support at the 20-day moving average and sport a healthy 63.1% year-over-year lead.
Drilling down to today's options activity, 11,000 calls and 7,259 puts have already crossed the tape, volume that is quadruple the amount typically seen at this point. Most popular is the weekly 5/1 82-strike call, followed by the 74- and 75- strike puts from the same series.
