GM's Blazer EV Disaster Is The Wrong Thing To Focus On (Upgrade)

What the market hears: Chevy's Blazer EV is a catastrophe. Sales have collapsed. GM is hemorrhaging money. Short GM.

What the numbers actually say: The EV fire drill is over. GM has already written down its worst, is printing $10.6 billion in free cash flow from its core ICE business, and is returning billions to shareholders at a valuation that makes no sense for what the company has become.