US Automotive Tech Stocks Increase Market Cap by $780 Billion in One Day

Shares of Garrett Motion Inc. (Nasdaq: GTX) closed at $33.22—up 8.21%—on Nasdaq, with a trading volume of 3.23 million shares.

Its market capitalization expanded to about $6.22 billion, adding roughly $556 million in a single day (approximately ₩780 billion).

Recently, Garrett Motion refinanced its $635 million term loan due 2032 at a lower interest rate and made an early $50 million principal repayment, cutting interest costs while strengthening its balance sheet. In its Q1 results released at the end of April, the company reported revenue of $985 million, a 12% year-over-year increase, and raised its outlook for 2026. Yesterday in New York, it held its 2026 Technology & Investor Day—emphasizing its turbocharging, zero-emission and industrial technology portfolio and long-term growth strategy—which further boosted investor sentiment.

Spun off from Honeywell’s Transportation Systems division in 2018, Garrett Motion is a specialist in turbochargers and high-speed electric compressors. Headquartered in Rolle, Switzerland, and listed on Nasdaq, it serves global automotive OEMs and industrial customers. Beyond turbo systems that improve internal-combustion engine efficiency and cut emissions, the company is expanding electric-boost solutions for hybrid and hydrogen-fuel-cell applications, positioning itself as a key beneficiary of the powertrain electrification trend.