Top 5 Cyclical Stocks To Buy Now

2. General Motors Company (NYSE:GM)

Number of Hedge Fund Holders: 77

On December 17, General Motors Company (NYSE:GM) announced that it had begun delivering the all-electric GMC Hummer and the BrightDrop EV600 light commercial vehicle. The announcement marked the beginning of a new era for the firm with a focus on EV manufacturing through the Ultium Platform that will lead to development of vehicles across brands and allow third-party licensing of EV technology. General Motors Company (NYSE:GM) shares are up 37% since January as the firm embarks on an ambitious plan to double revenues by 2030. 

General Motors Company (NYSE:GM) has also enjoyed positive attention from hedge funds this year. Chicago-based investment firm Harris Associates is a leading shareholder in General Motors Company (NYSE:GM) with 34 million shares worth more than $1.8 billion. The company is expanding into the cloud business as well as it pours nearly $35 billion into a transition towards technology and EVs. 

Junto Investments, in its Q4 2020 investor letter, mentioned General Motors Company (NYSE:GM). Here is what the fund has to say about General Motors Company in its letter:

“General Motors was the biggest gainer. We managed to buy it at a screamingly cheap price in the middle of March. A lot of interesting news has emerged about GM recently, including the new electric product delivery system BrightDrop and GM Cruise’s team-up with Microsoft Azure to commercialize self-driving cars in 2021. GM’s intrinsic value is crystallizing and the company is worth a whole lot more than is still reflected in the market.”