GM Stock Value Rises 3 Percent During Week Of October 28 – November 1, 20194
The value of GM stock increased during the October 28th, 2019 – November 1st, 2019 timeframe. Shares closed the week at $37.97 per share, which represents an increase of $1.23 per share, or over 3 percent, compared to last week’s closing value of $36.74.
Movements in GM stock value for the week were as follows:
- Monday, October 28th: GM stock opened the day (and the week) at $37.21 and closed at $36.64
- Tuesday, October 29th: GM stock opened at $37.60 and closed at $38.21
- Wednesday, October 30th: opened at $38.26 and closed at $37.91
- Thursday, October 31st: GM stock opened at $37.62 and closed at $37.16
- Friday, November 1st: General Motors stock opened at $37.21 and grew to $37.97 at market close
These results represent the fourth consecutive week in GM stock value growth. This week, the Detroit-based automaker’s stock experienced a five-percent jump in value after the release of its Q3 earnings report on October 29th. Prior to that jump, GM share values took a hit as a result of the UAW strike. Luckily, the walkout has officially ended due to progress made in contract negotiations between The General and the UAW, wherein the UAW has voted to ratify the contract. Prior to the UAW-related turbulence, GM share values saw a three-week-long growth streak.
Earlier in the year, GM stock saw a jump in value as a result of overwhelmingly positive Q2 2019 earnings, wherein the automaker outperformed expectations. Some subsequent drops in value prior to the strike are believed to have been related to warning signs of an economic slowdown, along with various escalating matters in the ongoing trade war with China.
By comparison, shares of GM’s cross-town rival, the Ford Motor Company, increased $0.17 per share, or 2 percent, this 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, while discontinuing some sedans (Cruze, Impala, LaCrosse, XTS) and closing various plants 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 stuck in the $33-$38 per share range. The chain of events is problematic given that the “new GM” had its Initial Public Offering (IPO) at $33 per share in November 2010, frustrating many investors.
We remain interested in seeing how GM stock performs during the final quarter of 2019, 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 of these products are expected to contribute significantly to GM’s bottom line.
In addition, the automaker was planning to roll out an autonomous ride-sharing service from its Cruise division by the end of 2019, but has announced that it has delayed the launch timeline. GM sees the robo-taxi service as a significant opportunity for growth.
In July 2019, GM unveiled the new Corvette, which adopts a mid-engine layout for the first time in its history. The mid-engine Corvette, also known as Corvette C8 or the 2020 Corvette, will launch around December 2019. The convertible model, announced in October 2019, will launch in 2020. The Corvette is a noteworthy contributor to GM’s financial performance, since the Corvette carries healthy profit margins.
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One has to wonder what type of stock value will General Motors have under a Elizabeth Warren Presidential Administration where the healthcare that UAW members fought and died for will disappear overnight as UAW members will need to settle with Medicare for all (this includes the potential tens of millions of illegals because Warren believes in open borders and that illegals will instantly become US citizens with Medicare for all).
we already know trump’s steel tariffs have cost gm one billion.
Thank you or bringing this is up. The cost of healthcare for all does not include the unknown cost of the illegal aliens, undocumented, or whatever politically correct term is in vogue. Many states including California have already included the aforementioned in their Medi-Cal program. Do not doubt for one New York minute that these healthcare programs won’t ultimately be expanded to illegals nationwide by the Democrats as a means to inshrine their political futures.
The problem is even not adding in the hidden cost they are to $52 Trillion Dollars now. Now the problem is not what it would do to GM but what it would do to our economy as a whole.
You have to figure in too that 1-2 million will lose their jobs with this too just due to the medial plan not related cost.
The end result would be doctor shortages, poorer care for most that have it now and still no cutting or controlling of cost with the government just handing over a blank check.
People really need to sit down and understand just how much $52 trillion really is. 1 Billion Dollars is just a penny in the parking lot compared to $52 Trillion. Also consider the national debt now is horrible at only $22 Trillion.
Our health care will be on part with what Russia provides.
I was told I would not lose my Doctor. Well I have gone through three Doctors since those words were spoken. They all retired as they were not going to pay the game with the new heath care law. Also my rates continue to climb.
No matter who you support this plan is absolutely a total farce and could never be pulled off without damaging our countries standing in the world and our economy.
Even Nancy has stated this plan could never work.