GM Rallies Following Einhorn's Bullish Thesis

General Motors Company GM shares are trading higher by $1.09 (3 percent) at $35.80 in Tuesday's session.

Investors are following the lead of Greenlight's David Einhorn, who is long the issue and has detailed a new plan to unlock shareholder value. Under his plan, he forecasts the value of the company to be in the $43.00-$60.00/share range.

After a retreat from its March 6 high ($38.55), GM's stock put in in a series of lows at the $34.00 area, which has provided the foundation for today's rally.

Following a slightly lower open, it bottomed on its opening print of $34.66 and began to move higher. The ensuing rally has found intra-day resistance ahead of its March 20 high ($36.4), only reaching $36.25.

At this time, it has fallen back under $36.00 and has been consolidating at the $35.80 area since 11:45 a.m. ET.