The value of GM stock rose during the February 18th, 2019 – February 22nd, 2019 timeframe, closing the week at $39.97 per share. That represents an increase of 2.5 percent or $0.98 per share during the course of the week.
Movements in GM stock value for the week were as follows:
- Monday, February 18th: market closed due to President’s Day holiday
- Tuesday, February 19th: GM stock opened the day (and the week) at $38.98 and closed at $39.53
- Wednesday, February 20th: opened at $39.64 and closed at $39.95
- Thursday, February 21st: General Motors stock opened at $40 and fell to $39.62 at market close
- Friday, February 22nd: opened at $39.84 and rose slightly to close at $39.97 – $0.91 higher than last week, during which time GM stock gained $0.78 in value
This marks the seventh consecutive week during which GM stock saw an increase in value. Shares saw a weekly low of $38.71 on Monday and a weekly high of $40.20 per share on Thursday.
Over the last few years, GM has taken significant steps to increase the value of its stock, including exiting markets where it is unwilling to or can’t find ways 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 turning around its Cadillac luxury brand for profitability, and investing heavily into new-age mobility ventures such as electric vehicles and autonomous driving tech.
Despite these notable actions, the value of GM stock has traditionally hovered around the $33 per share mark, identical to IPO price of the “new GM” in November 2010, 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 told us previously, “The iceberg has begun to move.”
The rally seems to have started with an investors conference held immediately prior to the Detroit Auto Show in January, during which the automaker presented its strategy for new models intended for developing markets as well as several future Cadillac vehicles and how they will contribute to its bottom line. During the Detroit Auto Show, GM unveiled the Cadillac XT6 crossover SUV and pre-announced an electric Cadillac crossover. We believe that GM’s activity at both events continues to play a role in the ongoing rally for GM stock.
Other factors that could be contributing to the sustained GM stock rally include moves to permanently end the governmental shutdown as well as GM’s debut of its new Heavy Duty pickup trucks – the 2020 Silverado HD and 2020 Sierra HD.