The value of GM stock increased 1.4 percent or $0.55 per share during the January 28th, 2019 – February 1st, 2019 timeframe, closing the week at $38.78 per share.
The value movements of GM stock for the week were as follows:
- Monday, January 28th: GM shares opened the day (and the week) at $38.23 and closed at $38.46
- Tuesday, January 29th: GM stock opened the day at $38.31 and closed at $38.47
- Wednesday, January 30th: opened at $38.50 and closed at $39.09
- Thursday, January 31st: General Motors stock opened at $38.81 and rallied to $39.02 at market close
- Friday, February 1st: opened at $38.89 and fell slightly to close at $38.78, which is $0.14 higher than last week; during that time period, the value of GM stock increased $0.33
This marks the fourth consecutive week during which GM stock saw an increase in value. The boost continues after 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 prior to the start of the Detroit auto show continues playing a role in the ongoing rally for GM stock. During the conference, the automaker presented its strategy for new models intended for developing markets and several future Cadillac vehicles and how they will contribute to its bottom line. The culmination of the governmental shutdown may also be a contributing factor to the ongoing rally for GM shares.
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.”