GM Shares Reach $40.38, Marking New 52-Week High
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General Motors had no shortage of headline stories this week. Most notable of which being that the company plans to largely withdraw Chevrolet from the European market. While concerning at the surface, it seems Wall Street likes the idea, with shares closing at $40.17, breaking the $40 mark, and even reaching as high as $40.38 mid-day. This marks a new 52-week high.
Share prices of GM stock also continue to swell in anticipation of the U.S. Treasury unloading all remaining shares of the company by year’s end.
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Good move…lets hope Chevy can begin selling the smaller Opels globally.
Much like One Ford except under regional branding.
I bought B warrants for $8. Recently bought the C warrants for $4.40.
If GM had pulled the plug on Opel, as originally planned, I think the stock would be close to $80 today. With that said, driving Europe Chevy into the levy is a good move. Especially with the free trade agreement just signed between Australia and Korea. Now Korea can make Holdens and Australia production can be shut down. Just hope the keep holden R and D and Holden HSV. Holden HSV rocks. We need a similar program in the US for chevy.
I’m starting to feel like GM is becoming more German by the day. Opel does so much of the engineering work, things one would think Warren could do.
Saw am interview with A. M. From Ford talking about how Americans preferred Euro Fords, and I have to wonder if next Gen Spark won’t be a Corsa varient like in China….they have Spark to Bogoun (sp?).
I guess Opel will not be moving up market now so how does this effect Buick?
Well GM stock would not be at $80 if that would have happened and if it did it would be artificial and not sustainable.
GM is gaining stock prices the hard way through segmental moves and not a lot of hype like some other electric car company. This is the kind of path that will lead to long term increase in value and sustainability.
As for GM becoming German? Not entirely true. While Opel does help in many ways GM has a lot of input globally. More still goes on in Detroit than anywhere but each part is now contributing to the entire portfolio. This is key to use the best at what each can offer to build the best cars.
Nothing artificial about the massive losses in Europe. Opel has cost over $7 or $8 billion at least in earrings since bankruptcy. Cash flow has been probably over $10 billion. The losses will continue at least several more years plus more capital to plow in. To say this cost us $30 billion in market cap is the honest truth. Furthermore, without opel, UST would have come out hole. The PR from that would have been huge.
With all due respect F$CK GM. Look that their stock price pre 2008. $25 a share; all the way down to $0 a share. The company was changed from GM to General motors liquidation Company. Then / Now GM is back on the market at $40 a share? Their stock dropped to $0 then reopened on the market at $25….?? So, how did it climb to $25 over night as a new ticker and everyone holding the stock had $0 dollars….. The TAX money bailed out GM. Everyone holding GM stock before got ZERO The “NEW” GM is worth $40? Ha what a Joke. GM was over aggressive borrowing and expanding and should be bankrupt. Like any other small company would. US can get by with Ford and other car manufacturers. Or GM could pay all their stock holders back before claiming Profit and making the CEO, CFO millions. I love the new Corvette but would never buy GM again.