Why The Goodyear Tire & Rubber Company (GT) Soared Last Week

We recently compiled a list of the 10 Companies That Performed Well Last Week. In this article, we are going to take a look at where The Goodyear Tire & Rubber Company (NASDAQ:GT) stands against the other stocks.

The stock market fell heavily into the red territory on Friday as investors sold off positions to mitigate risks from a series of macroeconomic factors.

The Dow Jones declined by 1.69 percent, the S&P dropped by 1.71 percent, and the tech-heavy Nasdaq nosedived by 2.20 percent.

Despite the broader market downturn, ten companies gained momentum, recording price growths on a week-on-week basis.

We have listed 10 companies that performed well last week. Note that shares performances were based on closing prices last Friday, February 21, as against their prices on February 14, or a week earlier.

To come up with last week’s advancers, we considered only the stocks with $2 billion in market capitalization and $5 million in daily trading volume.

A tire manufacturing plant, showing the mechanization and efficiency of the company’s operations.

The Goodyear Tire & Rubber Company (NASDAQ:GT)

The Goodyear Tire & Rubber Company (NASDAQ:GT) saw its share prices grow by 4.17 percent week-on-week to end at $9.98 apiece as investors cheered news of an impressive earnings performance last year.

On February 13, The Goodyear Tire & Rubber Company (NASDAQ:GT) reported a sharp rebound in its net income performance for the fourth quarter and full year 2024, with adjusted net profit in the quarter ending at $76 million, a significant turnaround from the $291 million net loss in the same period a year earlier.

Meanwhile, The Goodyear Tire & Rubber Company (NASDAQ:GT) swung to a net profit of $70 million, a turnaround from a $689 million net loss in 2023.

Looking at the data, The Goodyear Tire & Rubber Company (NASDAQ:GT)’s stock price began to jump following the release all through February 19, before investors took profits until Friday.

Overall GT ranks 10th on our list of the companies that performed well last week. While we acknowledge the potential of GT as an investment, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and doing so within a shorter timeframe. If you are looking for an AI stock that is more promising than GT but that trades at less than 5 times its earnings, check out our report about the cheapest AI stock.

READ NEXT: 8 Best Wide Moat Stocks to Buy Now and 30 Most Important AI Stocks According to BlackRock

Disclosure: None. This article is originally published at Insider Monkey.