The value of GM stock decreased during the April 22nd, 2019 – April 26th, 2019 timeframe. Shares closed the week at $39.68 per share, which represents a decrease of $0.62 per share, or nearly 2 percent, compared to last week’s closing value of $40.30.
Movements in GM stock value for the week were as follows:
- Monday, April 22nd: GM stock opened the day (and the week) at $40.00 and closed at $39.50
- Tuesday, April 23th: GM stock opened at $39.40 and closed at $39.83
- Wednesday, April 24th: opened at $39.51 and closed at $39.72
- Thursday, April 25th: GM stock opened at $39.52 and closed at $39.11
- Friday, April 26th: General Motors stock opened at $40.05 and fell to $39.68 at market close
The decline in value experienced this week marks the first weekly drop after four consecutive weeks of gains for GM stock. Shares saw a weekly low of $38.95 (on Thursday) and a weekly high of $40.10 per share (on Monday and Friday), thereby falling below the $40 per share mark – which the stock has surpassed four times so far this year (including this week’s occurrences). By comparison, shares of GM’s cross-town rival, the Ford Motor Company, gained $0.86 in value during the week.
Over the last few years, GM has taken many steps to increase the value of its stock, including exiting markets where it 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 profitability over chasing market share goals, focusing on its Cadillac luxury brand to increase its share of high-profit automobiles, investing heavily into new-age mobility ventures such as electric vehicles and autonomous driving tech, and discontinuing some sedans (Cruze, Impala, LaCrosse, XTS) to focus on more profitable crossovers, SUVs, and pickup trucks.
Despite these notable actions, the value of GM stock has historically hovered around the $33 per share mark, roughly the IPO price of the “new GM” in November 2010 – a circumstance that has had many investors frustrated. However, the current value of $39.74 represents a notable improvement in the value of GM shares. In fact, GM stock has gained about 18 percent since opening the year at $33.64 per share on January 2nd, 2019 – thereby outperforming the Dow Jones Industrial Average.
It will be interesting to see how GM stock performs during the rest of the year, especially as the Detroit-based automaker launches its GEM-based vehicles for developing markets, completes the roll-out of its full-size pickup trucks, begins to launch its all-new full-size SUVs and various new Cadillac models – all high-margin products. In addition, the automaker was planning to roll out an autonomous ride sharing service from its Cruise division by the end of 2019, but it’s unclear if those plans are still on track.