The value of GM stock hit $63.44 per share on Tuesday, an all-time high for the “new GM,” before backtracking slightly to close the day at $61.94 per share. GM’s market cap is 89.25 billion, with a daily open of $60.50 per share and a daily low of $60.44 per share.
The rise in GM stock value was fueled primarily by the announcement of the new all-electric Chevy Silverado pickup truck. In a press release issued earlier Tuesday, GM confirmed that it was developing the new Silverado EV for production at GM’s Factory Zero assembly plant in Michigan, previously known as Detroit-Hamtramck.
The announcement follows the debut of the new 2024 GMC Hummer EV SUV over the weekend, introducing a fresh body style for the latest battery-driven Hummer lineup.
The new all-electric Silverado, possibly called Chevrolet Silverado E, will be based on a ground-up design specifically geared for all-electric power, with upwards of 400 miles per charge. Both retail and fleet versions will be available, with GM’s Ultium technology under the skin for motivation.
“The vehicles coming from Factory Zero will change the world, and how the world views electric vehicles,” said GM President Mark Reuss during the announcement of the new all-electric Chevy Silverado. “The GMC Hummer EV SUV joins its stablemate in the realm of true supertrucks, and Chevrolet will take everything Chevy’s loyal truck buyers love about Silverado – and more – and put it into an electric pickup that will delight retail and commercial customers alike.”
Last month, GM stock value crossed the $60 per share mark, following a 10-percent jump the previous week. GM stock value also saw consistent growth throughout January, breaking the $50 per share mark. Much of the growth in January is attributed to GM’s debuts at the Consumer Electronics Show, including a new business venture named BrightDrop, set to offer commercial last-mile electric delivery solutions, and two futuristic Cadillac concepts, including the Cadillac Personal Autonomous Vehicle and Cadillac Vertical Take-Off and Landing Vehicle.
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Comments
GM has long been the masters of hype. Then when the reality shows up the product often doesn’t live up… We will see.
Please give us examples on this statement for new vehicles during the last twenty years?
Sorry much of my historical view of GM goes back 40 years.. Ill start with every Cadillac model from the late 70’s to 2008. Cadillac’s current Chevy based CUV/SUV whatevers. The GM10, later W bodies. SATURN. The downsized Riviera, Torinado, Seville/ El dorado disaster. COBALT. AZTEK. Putting carburated 3.0 v6’s with 3 speed transmissions in the APV vans. BLACKWING. OMEGA. Net build engines, remember piston slap?
1 have owned new GM vehicles since 1974. over 40 in total ! yes there were times that quality was off, but there is not another manufacturer out there that its not tre as well. I actually had a 2003 AZTEK AWD for 2 years and 190 k . The AWD drive system was fantastic , as well as indept suspension . The think rode well was very reliable and had great utility . today its being replicated by Mitsubishi on a smaller platform and no one notices . The AZTEK was just ahead of its time . I have also had 3 Subaru’s.. 15. 17, and now a 19 There are lots to like on Subs , but the refinement and reliability are no match for GM. My 19 Nox premier is better as a daily driver on so many levels, comfort, NVH, fuel economy , ride, handling etc.
Glad to see the new technology manufacturing staying in the USA.
Nothing new about EVs. They are a 20th century concept. Every boy growing up had an RC car. Saying it’s new technology is not true. The fuel cell is a newer concept than battery’s feeding motors.
wall street is at all time high. i thought biden was the reincarnation of lenin/trotsky/chavez/castro. trumpers wrong again.
wait for inflation – it’s starting and will come. interest rates rising.
the fed has been trying to stoke inflation for years.
it would be interesting if inflation shot up and the fed had to raise interest rates sooner and higher than what everyone is expecting.
that would give a nice gut punch to the stock market.
So why not blame oblamer and clintoon for not doing anything about it?
about what? the lack of inflation?
Steve, dumb statement. Inflation comes with high interest rates. The FED has been holding 1% or less interest rates for almost a decade to fight inflation. You got the concept back topsy turvy
you raise rates to fight inflation. ask paul volcker.
Still waiting for crappy interior refresh.
It’s a truck, I have one, interior is easy to keep clean and unlike the competition the interior holds up well after years of use- also the ergonomics are great-
The first Chevy diesel puck up, and the Chevy Citation were hyped up disasters. The last Monte Carlo was really bad>
all these are 1 – 3 years away. nothing new to market today. Escalade good for large people’s elite bling, but actually 2022 MB and current Genesis are newer with more tech, nicer interiors.
When these vehicles are in customer hands and a problem arises, and it will, gm will show the same customer “you bought it, you got it” mentality and will tell the customer the same old bs they always have. “It’s normal” and is not covered under warranty.
Stock would be more than Tesla if GM doubled down on domestic drilling, military action in the middle east, buying oil companies and forcing biden to knock down oppressive fuel economy laws.
Now we see the real reason for the EV push…. grab those stock dollars! GM taking a leaf from Tesla, sell noise! Looks like the Silverado-e has already paid for itself, though I can’t seeing them sell to many and they better not if they want to hold onto that stock profit. Like the bolt they’ll loose money on every truck sold, and they can’t charge Hummer prices for a Silverado.
Good news for lowercase gms bean counters. Consumers meanwhile largely are indifferent. By the time gm gets their stuff to the market other brands will have snatched customers who genuinely want to buy an EV now. Kia showcased a very fast hatchback that is coming to the market this year. girly motors would have said their equivalent will be here in 2025.
So since investors perceive gm to be so highly valued. I don’t want to hear why our already indebt government needs to provide incentives for EVs. Most of us are all paying gas taxes. I know the government does not care as they have been double dipping for decades. So I don’t want to pay for that.