The value of GM stock surpassed the $40 per share mark in intra-day trading yesterday, August 8th, 2019. The circumstance marks the seventh time that the value of General Motors shares has surpassed the $40 per share mark in 2019, with the first instance taking place on February 6th. The previous (sixth) occurrence took place about two weeks ago, on Tuesday, July 23rd, 2019.
After the increase in value commenced about two weeks ago, the upward momentum of GM share values was impeded by the ongoing trade war between the United States and China, though it has since stabilized. We believe the uptick in GM stock value could be in response to any one of the following events:
- Strong results in the Q2 2019 earnings report, which GM announced on August 1st
- The unveiling of the 2020 Chevrolet Corvette C8
- The launch of the new Cadillac XT6 in both the U.S. and China, which is expected to deliver high margins at healthy sales volumes
- Macroeconomic factors that show favorable economic circumstances in vital markets for GM, such as the U.S. and China