The value of GM stock increased during the June 24th, 2019 – June 28th, 2019 timeframe. Shares closed the week at $38.53 per share, which represents an increase of $1.61 per share, or over 4 percent, compared to last week’s closing value of $36.92.
Movements in GM stock value for the week were as follows:
- Monday, June 24th: GM stock opened the day (and the week) at $36.83 and closed at $36.96
- Tuesday, June 25th: opened at $37.06 and closed at $37.68
- Wednesday, June 26th: opened at $37.82 and closed at $38.13
- Thursday, June 27th: GM stock opened at $38.60 and closed at $38.32
- Friday, June 28th: General Motors stock opened at $38.34 and fell to $38.53 at market close
This week’s increase marks the fourth consecutive week of growth for GM stock, which follows four consecutive weeks of declines. Shares saw a weekly low of $36.58 (on Monday) and a weekly high of $38.96 per share (on Thursday). The value remains below the $40 per share mark – which the stock has briefly surpassed five times so far in 2019. By comparison, shares of GM’s cross-town rival, the Ford Motor Company, grew by $0.24 per share.
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, while discontinuing some sedans (Cruze, Impala, LaCrosse, XTS) to focus on more profitable crossovers, SUVs, and pickup trucks.
Despite these actions, the value of GM stock has struggled to surpass the $40 mark, spending most of its time in the $33-$38 per share range. To note, the value of the “new GM’s” IPO was $33 per share in November 2010. The circumstance has frustrated many investors.
It will be interesting to see how GM stock performs during the second half 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, and begins to launch its all-new full-size SUVs and various new Cadillac models – all products that are expected to contribute significantly to its bottom line. In addition, the automaker is still planning to roll out an autonomous ride-sharing service from its Cruise division by the end of 2019. GM sees the robo-taxi service as a “trillion-dollar opportunity”, with the automaker’s Cruise AV division set to launch the service in limited markets by the end of this year, though the timeline on this venture may have been pushed back.