The value of GM stock surpassed the $40 per share threshold during a mid-week rally today, Wednesday February 6th, 2019, marking a notable milestone for shares of the “new” General Motors.
So far today, shares reached a high of $40.74 per share and a low of $39,75. The results come on the heels of a generally positive earnings report for Q4 2018 and for the entire 2018 calendar year.
By comparison, The General’s domestic competition doesn’t seem to be enjoying similar success. Ford shares decreased slightly to $8.74 per share while those of Fiat Chrysler saw minimal gains of roughly $0.03.
If this upward trend continues until the end of the business week, then it would become the fifth consecutive week during which GM stock saw an increase in value. The boost seems to have started following a GM investors conference prior to the start of the 2019 Detroit Auto Show conference. During the conference, 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.
A day after, GM unveiled the all-new Cadillac XT6 three-row crossover SUV and pre-announced an electric Cadillac crossover at the Detroit Auto Show. The former is set to be a significant driver of sales volume, revenue and profit, while the latter will give Cadillac a foothold into the nascent (yet growing) luxury electric vehicle segment.
Several macroeconomic factors also appear to be aiding the ongoing GM stock rally, including the semi-permanent end of the governmental shutdown.
Stay tuned to GM Authority for ongoing GM stock news and complete GM news coverage, and be sure to check back in Friday afternoons for our weekly analysis of General Motors stock performance.
Comments
Wait, GM was open during the government shutdown?
Stocks go up when companies shed lower performing products, no surprise there. The people with already enough money love that. Doesn’t change the fact they handing over market share to competitors without a fight by canceling models.
Ford owns the market lead in trucks and are killing their cars yet they are $8.
Market share means little if not balanced with cost savings and profitability.
GM spent several decades of selling millions of cars and being #1-#2 in volume yet they needed bailed out.
There are times companies need to step back re-balance all their parameters to get their house in order. Once the house is back in order and the priorities are right you begin grow the company again.
Market share with no profits or fiscal stability leaves you back where we were in 2008.
Ford is in trouble and if it were not for the Ford family owning the majority of the stock they would be bought out by now.
They can sell all the trucks and Mustangs they like but till they get their cost in line they will be fighting low stock values and money shortages. The aluminum Ford truck is not reaping the profits of the old truck and GM’s mixed metals are providing a better return.
Just wait for all the cuts Ford will make in Europe and it will get even worse. They are hemorrhaging money there at record rates
Fiscal responsibility is not always fun, sexy or cool but it is an important thing in a contacting market. Going big is not the goal but the highest yield of return on investment is key. With the market contracting there are going to be less buyers for everyone so you will have to make more on less.
There are no more China’s out there to save your hide.
Ok, so once a month updates aren’t enough.
And once a week isn’t enough – now we get Wednesday updates?
Why not just roll a chyron banner at the bottom of the site?
Once the market and anal-ists come off their climax of GMs plant closings and layoffs, and Ford and perhaps Toyota start to outsell them in the US and Barra’s “Triple Zero” vision will play out as the unattainable joke it is, we will see how valuable GMs stock is then. Ill put my long term money on Ford and FCA any day over GM.