🎁 IPOs are the gift that keeps on giving

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Today's big stories

US carmaker General Motors laid out plans to double sales by 2030
Some of the biggest IPOs of the year have been and gone, but you can still profit from the most successful of them – Read Now
UK house prices jumped by the most in 15 years last month

Detour De Force

What’s Going On Here?

General Motors (GM) said earlier this week that it’s planning to double its revenue by 2030, and America’s biggest carmaker knows exactly where it has to go to make that happen.

What Does This Mean?

Carmakers the world over have been rushing to make electric vehicles (EVs) for an increasingly eco-conscious customer, and GM is no different: the company pledged in June to spend $35 billion on EVs by 2025, as well as to stop making traditional cars completely by 2035. It reckons that shift will boost its EV revenue from $10 billion in 2023 to $90 billion in 2030.

And it’s not stopping there: GM thinks it’ll earn $80 billion from its other new businesses too, including self-driving cars and subscription services like breakdown cover. Put it all together, and the company’s hoping to hit $280 billion in sales by the end of the decade.

Why Should I Care?

For markets: Investors are digging GM.
GM’s stock is up 40% this year versus the US stock market’s 20%, and that rally might not be over anytime soon. For one thing, the introduction of subscription services will boost the firm’s profits, since they boast higher margins than cost-heavy car sales do. And for another, the push toward EVs will appeal to an investor base that’s investing more and more in sustainable companies.

The bigger picture: GM’s taking Tesla’s lead.
GM sold 10 times more cars than Tesla last year, but it’s still valued at 10 times less than the EV market leader – mostly because Tesla is treated as a high-growth tech company rather than a carmaker. GM, then, is reportedly trying to rebrand as a “tech-enabled mobility" firm, and it started by introducing a new in-car software platform on Thursday. But since it could take years to compete with Tesla on its own turf, GM’s planning to move into robotaxis and self-driving delivery services in the meantime – both areas Tesla hasn’t tried yet.

You might also like: Forget Tesla. There might be an even better EV play right now.

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Analyst Take

Have You Missed Out On 2021’s Biggest IPOs?

Carl Hazeley, Analyst

What’s Going On Here?

2021’s been a big year for initial public offerings (IPOs).

But if you’re coming down with a severe case of IPO FOMO, never fear: some of them still have plenty of promise.

Take Affirm, whose strong start to public life continues to be justified by the enthusiasm around buy-now-pay-later companies, not to mention the chance it gets bought out.

Or Bumble, which has continued to diversify its friendship and business networking tools in subtly impressive ways even as its share price has dropped off.

That’s today’s Insight: what’s happened to this year’s hottest IPOs in the months since, and whether you still have time to buy into the hype.

Read or listen to the Insight here

Look beyond the stock market

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