The value of GM stock grew 10.3 percent or $3.47 during the January 7th, 2019 and January 11th, 2019 timeframe, closing the week at $37.18 per share.
The timeline for the week was as follows:
- Monday, January 7th: GM shares open the day (and the week) at $33.71 and close at $34.36
- Tuesday, January 8th: GM stock opened at $35 and closed at $34.81
- Wednesday, January 9th: GM stock opened at $34.96, and closed at $35.18
- Thursday, January 10th: General Motors stock opens at $35, and falls to $34.73 at market close
- Friday, January 11th: opens at $36.67 and rallies to close at $37.18, which is $0.38 higher than last week
Overall, it was a very good week for GM shareholders, considering the 10 percent jump in share value. By comparison, Fiat Chrysler Automobiles and Ford shares experienced slight growth this week, crossing the $16 threshold, while Ford shares climbed to nearly $9 per share.
The growth in GM shares came on the heels of a GM investors conference that took place on Friday morning. During the presentation, GM provided insight into its strategy and impending vehicle launches, while showing investors the next-generation Cadillac Escalade, a Cadillac sports car, while providing details on its electric car strategy as well as future models derived from the GEM platform for developing markets.
Over the last few years, GM has taken significant steps to increase its share price, including exiting markets where it 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, while investing heavily into new-age mobility ventures such as electric vehicles and autonomous driving technologies.
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 many investors frustrated. However, this week’s rally is extremely welcome news and gives more hope for a brighter future.