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.