The value of GM stock remained level during the February 4th, 2019 – February 8th, 2019 timeframe, closing the week at $38.70 per share. That represents an increase of 0.1 percent or $0.05 per share.
The value movements of GM stock for the week were as follows:
- Monday, February 4th: GM shares opened the day (and the week) at $38.65 and closed at $38.93
- Tuesday, February 5th: GM stock opened the day at $39.08 and closed at $39.30
- Wednesday, February 6th: opened at $40.17 and closed at $39.91 after crossing the $40 threshold to a high of 40.74
- Thursday, February 7th: General Motors stock opened at $39.23 and rallied to $38.65 at market close
- Friday, February 8th: opened at $38.45 and rose slightly to close at $38.70, which is $0.08 lower than last week; during that time period, the value of GM stock increased $0.55
This marks the fifth consecutive week during which GM stock saw an increase in value. Shares jumped to nearly $41 per share on Wednesday before settling back down by the end of the business week.
The rally initially commenced in early January, as GM held an investors conference prior to the start of the Detroit Auto Show during which the automaker presented its strategy for new models intended for developing markets as well as several future Cadillac vehicles, while explaining how both efforts will contribute to its bottom line well into the future. A day later, GM unveiled the Cadillac XT6 “midsize-plus” crossover SUV and pre-announced an electric Cadillac crossover.
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 several weeks marks a highly positive development. As one insider tells us, “The iceberg has begun to move.”
Several macroeconomic factors also appear to be aiding the ongoing GM stock rally, including the semi-permanent end of the governmental shutdown.