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:Â GMÂ 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.
| Date | Open | Close | High | Low |
|---|---|---|---|---|
| 2019/3/8 | 37.63 | 37.99 | 38.04 | 37.5 |
| 2019/3/7 | 38.1 | 38.04 | 38.34 | 37.64 |
| 2019/3/6 | 39.24 | 38.67 | 39.29 | 38.49 |
| 2019/3/5 | 39.28 | 39.28 | 39.42 | 39.015 |
| 2019/3/4 | 39.7 | 39.25 | 41.5 | 39.03 |
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.
Stay tuned to GM Authority for ongoing GM stock news and complete GM news coverage.
Comments
Okay I am not someone important with a big salary at GM, but I am an insider I guess you could say. And I wanted to add my two cents to the big pic talk here about GM after lurking for while.
Notice all the bad news out of all the firings/ layoffs the past while? Well, as bad as they might be it is about to get a lot worse for GM. The reason why you are seeing so many fast layoff announcements and plant closure/ “idles” is because GM execs have data that shows a big problem is brewing that nobody has really grasped here from what I have seen. Simply put GM, as is the auto industry in general but maybe not as bad as GM, is in for a huge drop. You think it is bad now, stay tuned.
GM is just run by a bunch of incompetents. I think the shoe that will drop for GM will be when it comes out that it is nowhere near developing a breakthrough electric platform that it promised everyone. Yes, auto sales will probably level off but not to the extent that GM is predicting. I do not see any other automaker retrenching to the extent GM is nor do I see a major event that would cause auto sales to fall.
Regarding electrification:
This is not an area I work in so a lot of my comments to come will reflect more my interest in the economic and development of it and some “inside” experience that gives me a little more understanding than the average person, or maybe not. Just opinion so please don’t harp on me if you disagree. If you have more experience or knowledge with regards to vehicle electrification, I would love to hear it.
1) Electric is a great idea (well intentioned) for the most part, but maybe not an end-all to ICE. Also, other emerging technologies and hybrid plants are known and some being worked on that are lesser known. Electric works for some vehicle classes better than others and some environments better than others. But if anyone says the future is 100% electric and soon, they are wrong. And wrong for at least the next 50 years like people who said we were at “peak oil” many years ago and yet we continue to find new Wells all over.
2) GM fully knows that many of it’s electric vehicles like the competition are powered by fossil fuel origin electricity production plants. That’s right, coal and other means that are not 100% green energy make up most of the electricity production in the world for electric cars. And 99% of electric production in China is from dirty sources, so just moving to all electric in China is not as good as some play it up to be. It has more to do with controlling the industry by the Chinese government, but we will save that for another day.
3) What to do with all those toxic spent batteries. Imagine millions of lethal batteries that use up a lot of finite minerals that will pile up everywhere because they can’t be recycled easily.
4) Ask yourself, why is Toyota really pushing on Fuel Cells if electric is the end-all? Do you think Toyota makes stupid short-sighted decisions? Are they looking at a multi-pronged strategy of ICE, electric, hybrid and fuel cells for the next 30 years? Is it smart GM is so caught up on electric only and does it have something to with the Chinese government’s push on all-electric for the Chinese market and not necessarily common sense? Trying to kiss butt to the Chinese when you thought China would grow exponentially forever and you paid off a lot of officials for access? Is it turning out that way?
I could not say it better myself. I agree with you 100%. I would like to add that if there is a massive shift to EVs, electric rates will rise significantly and the electrical grid will be taxed. This will also cause gasoline prices to fall due to less demand making eces more attractive.
GM Insider: I also agree with your comments almost without exception. I would only add that those facts are why I continue to feel that the Voltec technology, properly marketed, could have been a good compromise, giving some “green” benefits while creating less environmental damage (and requiring less infrastructure investment) than the all-electric BEV.
With the proper mix of badges and body styles, again properly marketed, it could have evolved into a profitable (USA) product line for GM. But, I guess I continue to beat a dead horse…
Agree with you, Suzy Q. Voltec is a modern day Saturn. Right vision, typically bad GM execution.
Follow up to my earlier remarks:
The stock drop is just the start of big investors getting more specific data on GM and whole industry.
Regarding the heated China debate on here (you guys get excited, don’t you!), there are some, perhaps many, that know GM is over-exposed to China and it hasn’t even hit the hardest yet. And it will.
Don’t know if anyone follows Asia-centric economics and business, but there was a conference in Singapore I believe early this week that had some prominent panel guests. Of course many experts can contain their full assessments of the region for fear of losing business, or in the case of China, access to the country as you pretty much can only say good things (read not negative) about China or risk losing any credentials or even entry to the country. But one female bank analyst who is very experienced and knowledgeable about China, and we’ll respected all around, came out and admitted China is worse off than many want to admit or know. She only expects 2% growth in Chinese GDP for the next decade! In a country that needs to grow over 6 or 7 % just to keep its head above water, it doesn’t look good and that means GM’s China gamble might not pay off as expected.
You know nothing, but heresy! The only people who know anything about GM are the people in the boardroom.
That sure as hell is not saying much…
…
How do I get thumbs down for just wanting to read what people say ?
fun, fun
Haven’t heard much news about Saturn lately. Are they beating out those imports?
What a miss chance, Saturn was initially supposed to be absorbed by Oldsmobile
Yes perhaps, but was not it’s real raison d’être of the Saturn plant was to be a showcase of real flexible manufacturing so that American customers could efficiently custom order factory features and accessories (at the time of sale from the dealership)? This would have given GM a leg up on the foreign competition who, because of their long supply chain, could offer only pre-configured vehicles. You could not special order their cars but had to accept whatever was “on the lot”?
Unfortunately, I guess GM never got it to work, or perhaps never advertised or marketed it?
Good point.
Because it seems, at the end of the day, GM is a retailer, not a marketer.
And when they do try to market (say, Dare Greatly), well, it’s not that great, and they still can’t resist tagging an offer onto what should be a Tier 1 effort.
From a marketing standpoint, what does GM stand for?
What does Cadillac stand for?
And Buick. And Chevrolet.
GMC comes the closest with ‘We are professional grade’ (I guess).
Lutz was the head of mktng @ BMW when they came up with ‘The Ultimate Driving Machine’.
Whether they live up to that 30 years later is another story, but I suspect GM hasn’t the wherewithall to define itself in that way.
So you get Chevy runs deep instead.
The marketing gene disappeared from GM a long time ago.
Captain Carl: Excellent point about GM being a retailer rather than a marketer; I never thought about it that way; but I think you are exactly right! When Americans were “sold” on American automobiles as part of the “American Dream” the cars sold themselves; GM did well as a manufacturer and retailer.
But with increasing global competition, economic stagnation, and environmental worries, etc, making the sale became much harder. GM’s constant churning, getting rid of beloved brands and models, flirting with bankruptcy, etc made it even harder to successfully and profitably market/sell their product.
Now, by “betting the farm” on risky new products and services well beyond their traditional product mix, the need for effective marketing will be more important then ever. I wonder if they are up to the challenge?
I don’t even consider GM a retailer.
I think they are more like a wholesaler.
GM sells nothing to the public.
GM has ZERO interaction with the public.
GM builds vehicles.
Dealers tell GM what they want to sell.
Dealers interact with the public both in sales and service.
I even think its the dealers that tell GM what will sale.
I even think its the dealers that tell GM that the Customer is happy.
I know that’s putting a lot of blame on the dealer but what else.
Trouble with this is even the dealer now days sells other brands and makes more on the bottom line.
So where does that leave GM?
China?
How is that going to pan out in the next 3 – 5 years.
It will be interesting to watch, not good, just interesting
lifelongGMowner: Good points, I guess I lumped the dealer network in as part of the “greater GM” in my thinking. I assumed that GM had a lot of influence on the dealers, but you are probably right, it seems to be the other way around. But, if so, who is to blame for that? Still points to inadequate marketing at GM headquarters.
Maybe GM pay it dept of loosing Europe and concerning on China and US market. Opel is now profitable and full of R&D and design people which helped build older GM products.