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.