Shares of General Motors gained $1.15 or 3.55 percent on Wednesday, December 26th, 2018 – significant movement for the automaker that has seen the value of its shares slide over the past few weeks.
The GM stock rally follows a massive rally on Wednesday, which marked the biggest post-Christmas rally for U.S. stocks ever. The day results represented the Dow Jones Industrial Average’s largest single-day point gain in history, jumping 1,086.25 points or 4.98 percent, to close at 22,878.45. The gains also marked the biggest upside move for the Dow (on a percentage basis) since March 2009, when it rose 5.8 percentage points.
GM Stock performance on Wednesday, December 26 2018
The S&P 500 also jumped a notable 4.96 percent to finish the trading day at 2,467.70. The performance represented its best day since March 2009. Meanwhile, the Nasdaq Composite also had its best day since March 2009, soaring 5.84 percent to close at 6,554.36.
However, GM stock saw a very strong dip in after-hours trading, bringing its value to $32.52 per share at around 4:15 pm. The dip almost erased the day’s gains. Fortunately, it was quickly followed by a return to the mid-$33 per share mark roughly an hour later.
Despite this post-Christmas rally, GM shares continue to trade at roughly the same value as the $33 per share figure of the “New GM’s” Initial Public Offering (IPO) in November 2010 on the NYSE. The automaker has been doing a significant amount to increase its share price, exiting unprofitable markets, divesting loss-making divisions, making adjustments to its business model in order to prioritize profit over market share, while investing heavily into new-age mobility ventures such as electric and autonomous vehicle technologies.
Stay tuned to ongoing GM stock news and complete GM news coverage right here at GM Authority.
Comments
Let’s not forget the large stock buy backs in an attempt to prop it up!
None of these efforts seem to impact stock buyers since there is still an air of indifferent focus, primarily churning out vehicles that are average at best!
average? not according to j.d. powwwwuuuuh!hhh!!!
aren’t all auto manufacturer stocks in the toilet right now?
trump’s steel/aluminum tariff didn’t help. that cost gm a billion.
As of today Ford stock is $7.74
FCA stock is $14.53
The cost per share is worthless info Scott. The market cap is what matters… and GM’s market cap is among the lowest in the industry.
is gm’s cap really amongst the lowest?
they are significantly higher than f and fcau.
they are about the same as honda, bmw, tesla and daimler.
the big boys are volksawgon and toyota dwarfs them all.
i’m not sure where chinese/korean automakers fall.