The value of GM stock shed 2 percent or $0.67 during the December 31st, 2018 and January 4th, 2019 timeframe, closing the week at $33.33 per share.
The timeline for the shares were as follows:
- Monday, December 31st: GM shares open the day (and the week) at $34.34 and closed at $33.45
- Tuesday, January 1st: the market was closed on Monday due to the New Year holiday
- Wednesday, January 2nd: GM stock opened at $32.85, and closed at $33.64
- Thursday, January 3rd: General Motors stock opens at $33.34, and falls to $32.25 at market close
- Friday, January 4th: opens at 32.83 and rallies slightly to $33.33, which is $0.59 lower than last week
Overall, it wasn’t a great week for GM shareholders, considering the decrease in value. By comparison, Fiat Chrysler Automobiles and Ford shares experienced slight growth this week, with Fiat Chrysler being a penny shy of the $15 threshold and Ford shares crossing the $8 threshold.
|2018/1/1||Market closed due to New Year's Day|
Over the last few years, GM has taken significant steps to increase its share price, including exiting markets where it can’t figure out how to turn a profit (such as Europe, South Africa and India), closing plants in various parts of the world, 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.
Despite these notable moves, the $33.33 per share closing price of GM stock is nearly identical to the $33 per share value of the “New GM’s” Initial Public Offering (IPO) in November 2010 on the NYSE, a circumstance that has many investors frustrated.