The value of GM stock grew 4.79 percent, or $1.55, during the week of December 24th, 2018.
The week-long timeline was as follows:
- Monday, December 24th: GM shares open the day (and the week) at $32.65 and closed at $32.37
- Tuesday, December 25th: the market was closed on Monday due to the Christmas holiday
- Wednesday, December 26th: GM stock opened at $32.58, and gained 3.55 percent to close at $33.52 in the biggest post-Christmas rally for U.S. stocks ever
- Thursday, December 27th: General Motors stock opens at $33.07, and rallies to $33.96 at market close
- Friday, December 28th: stock remains stable, closing the week at $33.92
General Motors Company shares during the week of December 24th, 2018
Overall, it was a good week for GM shareholders. Ultimately, however, the automaker’s shares continued to trade at roughly the same levels as the $33 per share value of the “New GM’s” Initial Public Offering (IPO) in November 2010 on the NYSE.
| Date | Close | Open | High | Low |
|---|---|---|---|---|
| 2018/12/28 | 33.92 | 33.95 | 34.73 | 33.68 |
| 2018/12/27 | 33.96 | 33.07 | 34 | 32.39 |
| 2018/12/26 | 33.52 | 32.58 | 33.525 | 31.46 |
| 2018/12/25 | Market Closed due to Christmas Holiday | |||
| 2018/12/24 | 32.37 | 32.65 | 32.94 | 32.25 |
GM has done a significant amount of work to increase its share price, including exiting markets where it figure out how to turn a profit (such as Europe, South Africa and India), divesting loss-making divisions (such as Opel-Vauxhall), making adjustments to its business model in order to prioritize profit over market share, while investing heavily into new-age mobility ventures such as electric vehicles and autonomous driving technologies.
Stay tuned to GM Authority for ongoing GM stock news and complete GM news coverage.
Comments
So it underperformed the rest of the market?
This small fluctuation is worthy of an article?
It must be really slow on the car side…
Actually any gain in the Auto industry is news as it reinvents itself.
The auto mfg MFGs are all going to hsv3 to change how and where they do business.
Today’s markets also hav3 changed and the big swings will become the norm and not the rare move.
The auto industry is trying to reinvent itself as a tech company. Some are better positioned to do this than others.
The move to EV development and autonomy is not so much about the destination but the path traveled. We are still a good ways away from either being dominate but in developing technology for it is what draws investors.
Tesla is a perfect example of tech investors as Tesla really has not given them any return and has been preforming poorly in mfg yet people keep investing.
It make little sense in the old school of investing but that is what’s going on.
GM is putting itself in the place to lead in technology development. Not only will it apply to their cars but it will be sold or licensed to other MFGs much like a Intel.
Companies like Ford and many others are behind in technology and can not afford to go it alone. The 10 speed was a perfect example where GM was just cutting cost and Ford was looking for a way to get it don on what they could afford to spend.
Today any sustained gains should be noted in the industry.
https://www.barrons.com/articles/gm-has-gone-nowhere-since-its-2010-ipo-1538751977
Barron’s cover story in June 2008 was ‘Buy GM’.
And Barron’s annual Y/E ‘round table’ was high on GM (same era).
The only people who’ve made $ on GM stock in the last 10 yrs seem to be:
– upper mgt, who can exercise options @ artificially depressed prices
– market timers who bought the new GM when it dipped to 18/19 after the IPO
– people who shorted GM, and
– people who plan on living for another 100 or so years, and a century of dividends actually pays off.
Otherwise, aside from day-traders who caught the dead cat bounce, an investor would need to be content with 8 years of a horizontal stock chart. (I know, it got up to close to 40, but that gets back to market timing).
Statistically, the new GM has been flat line since the new GM IPO.
Works for mgt and timers, but it’s a chump’s bet for retail investors and drags down index funds.
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the writer needs to add some context. how did other manufacturers do? how does the price compare to the 50 day moving average?
this december was the worst for the stock market since the great depression. now that says something.
Yep, while workers look forward to getting laid off. The stock market is good for WHO??? F GM….
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