The value of GM stock remained level during the February 4th, 2019 – February 8th, 2019 timeframe, closing the week at $38.70 per share. That represents an increase of 0.1 percent or $0.05 per share.
The value movements of GM stock for the week were as follows:
- Monday, February 4th:Â GM shares opened the day (and the week) at $38.65 and closed at $38.93
- Tuesday, February 5th: GMÂ stock opened the day at $39.08 and closed at $39.30
- Wednesday, February 6th: opened at $40.17 and closed at $39.91 after crossing the $40 threshold to a high of 40.74
- Thursday, February 7th: General Motors stock opened at $39.23 and rallied to $38.65 at market close
- Friday, February 8th: opened at $38.45 and rose slightly to close at $38.70, which is $0.08 lower than last week; during that time period, the value of GM stock increased $0.55
This marks the fifth consecutive week during which GM stock saw an increase in value. Shares jumped to nearly $41 per share on Wednesday before settling back down by the end of the business week.
The rally initially commenced in early January, as GM held an investors conference prior to the start of the Detroit Auto Show during which the automaker presented its strategy for new models intended for developing markets as well as several future Cadillac vehicles, while explaining how both efforts will contribute to its bottom line well into the future. A day later, GM unveiled the Cadillac XT6 “midsize-plus” crossover SUV and pre-announced an electric Cadillac crossover.
| Date | Open | Close | High | Low |
|---|---|---|---|---|
| 2019/2/8 | 38.45 | 38.70 | 38.71 | 38.005 |
| 2019/2/7 | 39.23 | 38.65 | 39.41 | 38.34 |
| 2019/2/6 | 40.17 | 39.91 | 40.74 | 39.53 |
| 2019/2/5 | 39.08 | 39.3 | 39.36 | 38.73 |
| 2019/2/4 | 38.65 | 38.93 | 38.94 | 38.35 |
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 tells us, “The iceberg has begun to move.”
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
The Rocky road of GM stock as of late…up, down, up, down…
Meanwhile, profits declining, quality rankings lowered, sales forecasts dropping, and stupid bets on China and Mexico while firing almost 20,000 members of your American and Canadian workforce and counting…All the while the competition, foreign included, invest in the U.S. and Americans, building plants and proper auto companies.
Anything to say for this Miss Mary ‘Machete’ Barra?
Barra? She makes more money than all the CEOs of the other companies you are alluding to that are investing in quality and American jobs.
Business types, accountants, bean counters all have two things in common: They don’t know understand cars very well, and they don’t understand people very well. They are a necessary evil of all manufacturing, but at GM they get to run the show.
Next time, let the ship sink.
That’s exactly why Mary Barra is evil. She makes too much money but has no problem firing almost 20,000 Americans and Canadians without any care, thus destroying their families in the process. She should be so proud.
Time to reduce her pay in line with the industry. If she can put GM above Toyota, then maybe she can make a little more. Nothing else.
Barra does not come from a “Business background”…She comes from a lefty, SJW, affirmative action one.
I have no problem paying CEOs a large salary when they are successful. The late great Sergio Marchione was worth every cent. I do have an issue with people like Machete Mary whose salary was rewarded on the backs of the thousands of people she fired. I am sure her salary will be even more this year.
What are you going to do when it goes up the first of the week?
You realize the entire market was down a Friday.
Looks like you are the fool now, S3:
***Ford investing $1 billion, adding 500 jobs in Chicago***
https://mobile.reuters.com/article/amp/idUSKCN1PW21C
FROM THE ARTICLE:
The Dearborn, Michigan, automaker is eager to highlight that it is building more vehicles than its rivals do in the United States. Ford built nearly 2.4 million vehicles in the United States in 2018.
“We are furthering our commitment to America with this billion-dollar manufacturing investment in Chicago and 500 more good-paying jobs,” said Joe Hinrichs, president of global operations.
By contrast, General Motors Co announced in November it would halt production at five plants in North America, including four in Michigan, Ohio and Maryland, as it cuts about 15,000 jobs.”
NOT CHINA…NOT MEXICO!
If Ford can do it, Miss Mary Barra has no excuses…but she always seems to have many, doesn’t she, along with her excuse-making followers.