11/29/2023, 3:49 PM (Source: TeleTrader)
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GM jumps over 11% on share buyback announcement

The shares of General Motors Co. popped on Wednesday, jumping more than 11% as investors digested the latest news surrounding the company.

The carmaker announced it aims to launch an accelerated share repurchase program valued at $10 billion. Meanwhile, talking about the full-year 2023 guidance, GM noted it anticipates its net income to be at between $9.1 billion and $9.7 billion.

The company's stock skyrocketed 11.39% at 9:35 am ET, going for $32.17 apiece.

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