The value of GM stock grew 3.6 percent or $1.36 during the January 14th, 2019 – January 19th, 2019 timeframe, closing the week at $38.61 per share.
The value ebbs and flows for the week were as follows:
- Monday, January 14th: GM shares opened the day (and the week) at $37.25 and closed at $37.66
- Tuesday, January 15th: GM stock opened at $37.84 and closed at $37.55
- Wednesday, January 16th: opened at $37.48 and closed at $37.67
- Thursday, January 17th: General Motors stock opened at $37.50 and rallied to $38.26 at market close
- Friday, January 18th: opened at $38.45 and rose slightly to close at $38.61, which is $1.43 higher than last week – during which time the value of GM stock increased 10 percent
The gains experienced by the week mark the second consecutive week that GM stock has seen an increase in value. This week, the boost came on the heels of the Detroit Auto Show, where GM unveiled the Cadillac XT6 crossover SUV and pre-announced an electric Cadillac crossover. We also believe that the investors conference held by GM last Friday, during which the automaker outlined several future Cadillac vehicles and how they will contribute to the bottom line, also played a notable role in the ongoing rally for its stock.
Over the last few years, GM has taken significant steps to increase the value of its stock, including exiting markets where it is unwilling or simply 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, focusing on the profit potential of its Cadillac luxury vehicles brand, and investing heavily into new-age mobility ventures such as electric vehicles and autonomous driving tech.
Despite these notable moves, the value of GM stock has remained close 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 had many an investor frustrated. However, the rally experienced during the past two weeks is a very positive turn of events.