The value of GM stock remained steady during the March 11th, 2019 – March 15th, 2019 timeframe, closing the week at $38.07 per share. The performance represents a nominal decrease of $0.01 per share, or 0.03 percent, compared to the opening value for the week of $38.08.
Movements in GM stock value for the week were as follows:
- Monday, March 11th: GM stock opened the day (and the week) at $38.08 and closed at $38.62
- Tuesday, March 12th: GM stock opened at $38.70 and closed at $38.62
- Wednesday, March 13th: opened at $38.74 and closed at $38.80
- Thursday, March 14th: General Motors stock opened at $38.76 and fell to $38.03 at market close
- Friday, March 15th: opened at $38.04 and rose slightly to close at $38.07 – $0.08 higher than last week, during which time GM stock lost $1.17 in value
- GM stock increase a slight $0.04, or 0.11 percent, in after-hours trading on Friday
The changes represent the second consecutive week that GM stock value declined after a seven-week-long rally. Shares saw a weekly low of $37.88 (on Friday) and a weekly high of $39.03 per share (on Tuesday and Wednesday). By comparison, shares of GM’s cross-town rival, the Ford Motor Company, declined 0.4 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 the IPO price of the “new GM” in November 2010 – a circumstance that has had many investors frustrated. However, the current value increase marks a notable improvement in the value of GM shares.
Before the drop during this week and last, a GM stock rally 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 macroeconomic factors, such as the end of the governmental shutdown, resolution to various matters related to international trade, as well as GM’s debut of its new Heavy Duty pickup trucks – the 2020 Silverado HD and 2020 Sierra HD.