GM Stock Breaks $40 Per Share Mark For Third Time In 201911
The value of GM stock surpassed the $40 per share mark in intra-day trading on Wednesday, April 17th, 2019. It’s the third time that the value of General Motors shares has surpassed the $40 per share point in 2019, with the first taking place on February 6th and the second on February 25th.
After the first two peaks in quarter one, GM shares took a bit of a dip, dropping as low as $36.26 a share on March 25th. GM shares have since recovered thereafter. By comparison, the value of Ford shares has been steadily increasing throughout the second quarter. The stock’s currently $9.55 per share value, which is the highest point this year. In addition, Fiat Chrysler Automobiles shares peaked at $17.35 per share on February 6th, but then dropped to as low as $14.17 on February 12th, and currently sit at $16.48 per share, seeing small growth thus far in the second quarter.
If this positive upward trend continues through the end of the business week, then it would become the fourth consecutive week during which GM stock saw an increase in value. The longest streak so far this year was a seven-week-long rally, which started following a GM investors conference prior to the 2019 North American International Auto Show in Detroit. During the conference, the automaker presented its strategy for new models intended for developing market, as well as several future Cadillac vehicles and how they will contribute to the company’s bottom line.
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Ford is $9.95 and FCA is $16.48, Honda $28.88, Hyundai $33.00, Subaru $12.77, Mazda $11.70, Nissan $8.48 Mitsubishi, $5.46, Toyota, $61.83, PSA $28.11 and VW $18.73 just to put this into perspective.
I guess GM is not doing all that bad after all.
Not bad for a tough market.
Comparing sticker prices of competitor’s stocks – not sure what that proves.
Seems like it’d be more informative to see 12 mo +/-. Or longer.
Great that GM crested 40, but (for years now) they’ve been in the 32-40 range.
Maybe they’ll bust out to 50; maybe their Q1 numbers are strong.
Just seems premature to be high-fiving, unless you’re mgt who gets options @ 17.
Its an old story. A successful company with top engineers is taken over by managers and investors. The engineers are sidelined while the finance people flourish. The stock is AMAZING!
But greed and short-sightedness ultimately ends badly.
Giving competing stocks puts the financial strength of GM into perspective.
While $40 is not great compared to tech stocks in the auto industry that is headed for tough time it is pretty good.
Those stocks below $20 could be bought up and companies torn apart by hedge funds but most are not worth even that.
The only thing keeping Ford independent is that the Ford Family owns the majority of the stock. If not someone would have taken the at that price stripped the trucks away and put them to rest.
While many accuse GM of the cost cutting to keep profits up the truth is they are correct. Not to pay the board but to keep the hedge funds and cooperate bandits from moving in and stripping GM of anything of value and destroying the company.
Many of the companies at low prices really have little to offer so no one bites them, The tech GM has alone would be worth much to a bandit if 5hey have depressed stock prices.
Yes some folks lost a job. Yes we lost a Cruze but in the big picture they saved all the other jobs.
Read up on the Jonathan Goldsmith take over attempt of Goodyear tire back in the 80’s.
I hear you, Scott.
But there’s an interesting article @ hedgeclippers.org.
Looked it up because I remembered one hedgy (part of the GM bailout org) who initially wanted $8b and a seat on the board. (He got no seat, and had to settle for $5b).
Apparently, the stock buybacks are helping to fund payouts to hedge funds. Just check the post. Thx
Stock buy-backs keeping GM share price up, or true share value?
Stock buy backs and layoffs.
The buy backs have two things. One it helps keep the price up to make it difficult to buy back. It also shrinks the pool of sellers to buy enough to gain control. It is a balancing act for a while but if navigated properly it will preserve the company. Failure to keep it up then results in a poison pill or company break up.
Goodyear took the pill and sold off most of what they had. They did preserve the core tire businesses but they lost much too. They survived and are doing well today but they are much less diverse. They don’t even MFG their own blimps anymore.
GM has paid $25b to hedge fund mgrs over the last 4 yrs – 10b of which reportedly came from stock buybacks.
Again, the post is at hedgeclippers.org.
Recent posting, No 66.
This stuff is beyond my skill set, but apparently the $4.5b in plant closure savings went to hedge funds, to help pay off what is owed from 2009 onwards
The one benefit of all this is it has made GM more proactive.
They are cutting plants but most were over capacity plants that were not needed. Also cutting of line as the decl8be before the sit on lots at fire sale prices like the Lacrosse.
In the future contracting market being efficient, cutting waste, getting more profit per unit sold and doing more with less will be key.
I really thing the move to EV at GM is more about getting the cost down on the batteries and motors to cut cost to less than the development cost of making gas to meet ever more difficult standards.
Let’s face it one platform can be used and adjusted to size. The motors and batteries can be adjusted to size all using the same technology. Emissions get tighter no added development cost.
GM also has the advantage of keeping ICE around as long as needed to help pay for it unlike Tesla that struggles for money for the next model.
If I was a GM stock owner, knowing the history of the stock price, I would use GM “buying back” shares to raise stock price as a no value added situation and it would be a perfect time to sell stock!!
Plant closings free up cash for buy backs? Stock market manipulation is a nasty business, not just for GM, but many large corporations