GM Stock Climbs 2 Percent During Week Of February 11, 20196
The value of GM stock rose during the February 11th, 2019 – February 18th, 2019 timeframe, closing the week at $39.09 per share. That represents an increase of 2 percent or $0.78 per share during the course of the week.
GM stock value movements for the week were as follows:
- Monday, February 11th: GM shares opened the day (and the week) at $38.31 and closed at $38.63
- Tuesday, February 12th: GM stock opened the day at $38.80 and closed at $39.03
- Wednesday, February 13th: opened at $39.28 and closed at $39.00 after hitting a weekly high of $39.39
- Thursday, February 14th: General Motors stock opened at $38.81 and rallied to $38.89 at market close
- Friday, February 15th: opened at $39.11 and fell slightly to close at $39.09; that’s $0.39 higher than last week, during which time period, the value of GM stock increased $0.05
This marks the sixth consecutive week during which GM stock saw an increase in value. Shares saw a weekly low of $38.215 on Monday and a weekly high of $39.39 per share on Wednesday. Interestingly, GM stock saw a $0.20 (0.51 percent) jump in after hours trading on Friday.
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 told us previously, “The iceberg has begun to move.”
The boost continues following 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.
Other factors that could be contributing to the sustained GM stock rally include moves to permanently end the governmental shutdown as well as GM’s debut of its new Heavy Duty pickup trucks – the 2020 Silverado HD and 2020 Sierra HD.
Stay tuned to GM Authority for ongoing GM stock news and complete GM news coverage.
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There is not reason GM stock should not rise given the U.S. stock market keeps setting record highs. The American stock market is the best-performing stock market (not China which has lost more than 30%) in the world! The fact that GM even lost stock value earlier proves they still are not making all the right decisions with regards to the new world order.
Let’s face it, the whole American economy is really strong right now and getting stronger by the day. The stock market is just a reflection of that. The American economy is the best economy in the world even though it is a mature economy. Unemployment is at a 50-year low and manufacturing is booming. Say what you will about our President, but you have to admit the guy is winning big time on the economy and the average American is starting to notice. Or maybe I should say he is winning ‘bigly’.
The president has created massive trade wars. Unemployment is at its lowest because people have to work more, and earn more for the same life essentials. Profits remain marginally the same as automakers have raised MSRP’s while selling less, and offering less features as standard. The stock market is only doing great because corporate taxes were lowered to 15%, and most corporations use loopholes to pay even less. He’s screwing the American people, the cities and states that we all live in. Tax cuts falsely and temporarily boost the economy. In the end, the average American suffers the most. (i.e Middle and Lower Class Americans)
Funny the stock was up 2% on a week where American car-payment delinquencies were at an all time high, Escalade Q4 sales were down 15%, and Buick’s offering 0% financing.
Then again, there was the good news of the intro of GM’s new electric bike.
Maybe that did it!
Our economy has been growing since the great recession that Obama inherited. However, a couple of trends have helped Trump. In 2017, nearly all economies were doing well, and the US enjoyed the benefits. Then, with the Trump tax cut; many ‘economist’ have said we are on a ‘sugar high’; adding fiscal stimulus when the economy is good. This is what we refused to do when Obama was the president. Instead, we had extraordinary monetary stimulus from the Fed. The monetary programs raised asset prices so businesses could survive; but it also helped nearly anyone who had equities. Also helping Trump, is the simple fact of demographics; 10,000 baby boomers are retiring each day. Finally, the internet plays a part; pricing in most sectors is being contained; so our low interest rates still help stimulate the economy. That said we have many concerns looking forward; the growth of the federal deficit is just one of them.
This week we did see that Warren Buffet/Berkshire Hathaway, did buy 20 million additional shares in Q4, bringing their total
holdings to 70 million+ shares.
Currently, GM shares are very close to a technical breakout above $40. Any positive news on China trade will help to lift shares for all Auto related companies.
Berkshire Hathaway is up 1.4% since Jan 18. Not sure if that’s the best measuring stick.