To say that the impact the coronavirus pandemic has had on the stock market is “significant” might be characterized by some as an understatement. In the case of General Motors, GM share values have fallen by nearly 60 percent in roughly the past month. To clarify, GM stock was already on a slight decline in 2020 before the coronavirus reached current levels, and the recent free-fall in value exacerbates the lull.
For instance, GM stock value was $35.29 when the market closed on February 20th. Using that as the reference point along with today’s low of $14.32, values have since dropped 59.4 percent. Again, the only immediate cause for the drastic decline is the coronavirus outbreak and ensuing pandemic.
For context, below is a timeline illustrating all the ways that the Coronavirus pandemic has influenced GM operations:
- January 27th: GM Imposes Employee Travel Restrictions
- February 7th: General Motors Chinese Venture Making Masks
- February 11th: Buick Encore GX, Chevrolet Trailblazer Production Halted In South Korea
- February 14th: Concern Grows Over GM’s Truck Business
- February 15th: GM China Resumes Production
- February 28th:
- March 6th: SAIC-GM Sales Plunge 92 Percent
- March 9th:
- March 12th: Projections Show 9 Percent Dip In U.S. Auto Sales
- March 13th: GM Asks Employees To Work From Home
- March 16th:
- March 17th:
- March 18th:
- March 19th:
- March 20th:
While analyses from major firms indicate that the stock market will continue to see values slip before making a full recovery, no one is quite sure when that recovery will begin, or how long it may take. That said, GM is by no means the only automaker or company to see massive declines in stock values, as shares of many other firms – from Ford to Toyota and Tesla, and from Apple to Google – have seen similar behavior.
We’ll keep on our eyes peeled and ears to the ground while and report back with new developments, so be sure to subscribe to GM Authority for the latest updates on how the Coronavirus pandemic is impacting The General, as well as more GM stock news and more General Motors news coverage.