The value of GM stock fell during the March 4th, 2019 – March 8th, 2019 timeframe, closing the week at $37.99 per share. That represents a decrease of $1.17 per share, or 4.3 percent, during the course of the week.
Movements in GM stock value for the week were as follows:
- Monday, March 4th: GM stock opened the day (and the week) at $39.70 and closed at $39.25
- Tuesday, March 5th: GM stock opened at $39.28 and closed at $39.28
- Wednesday, March 6th: opened at $39.24 and closed at $38.67
- Thursday, March 7th: General Motors stock opened at $38.10 and fell to $38.04 at market close
- Friday, March 8th: opened at $37.63 and rose slightly to close at $37.99 – $1.54 lower than last week, during which time GM stock lost $0.72 in value
The changes represent the second consecutive week that GM stock value has declined after seven-week-long rally. Shares saw a weekly low of $37.50 today and a weekly high of $41.50 per share on Monday. By comparison, shares of GM’s cross-town rival, the Ford Motor Company, declined 4.6 percent during the week.
Over the last few years, GM has taken significant steps to increase the value of its stock, including exiting markets where it is unwilling to or can’t find ways 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 turning around its Cadillac luxury brand for profitability, and investing heavily into new-age mobility ventures such as electric vehicles and autonomous driving tech.
Despite these notable actions, the value of GM stock has historically hovered around the $33 per share mark, identical to IPO price of the “new GM” in November 2010, a circumstance that has had many investors frustrated. However, the rally experienced during the past several weeks marks a positive development.
Before the drop this week and last, a GM stock rally of sorts lasted seven consecutive weeks. The rally seemingly started following an investors conference held immediately prior to the Detroit Auto Show in January, during which GM presented its strategy for new models intended for developing markets as well as several future Cadillac vehicles and how they will contribute to The General’s bottom line. During the Detroit Auto Show, GM unveiled the Cadillac XT6 crossover SUV and pre-announced an electric Cadillac crossover.
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.