GM Stock Value Hits Record High With Factory Zero Opening
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GM stock value is on the rise today following the grand opening of the new GM Factory Zero plant in Detroit, the automaker’s first production facility exclusively devoted to assembling all-electric vehicles.
The GM Factory Zero plant, formerly known as Detroit-Hamtramck, is opening its doors following extensive renovations and $2.2 billion in investments from General Motors to build new all-electric vehicles at scale. The GM Factory Zero plant represents the largest single investment into a production facility in GM’s history. When fully operational, the facility is expected to employ more than 2,200 workers, roughly double the employees that worked at the facility prior to its retooling for EVs.
GM opened the Factory Zero facility today with plans to roll out the new 2022 GMC Hummer EV Pickup truck as the first model produced at the retooled plant. General Motors will also utilize the Factory Zero facility to produce Cruise Origin, GM’s fully autonomous ride-sharing EV, and the upcoming all-electric Chevy Silverado EV.
In the wake of rising GM stock prices, the automaker now approaches a $100 billion market valuation. The rising stock prices also follow investor enthusiasm for other all-electric vehicle producers, including Rivian, which had one of the biggest U.S. IPOs in history last week, topping out at market value of more than $100 billion. Rivian stock value was down for the day, falling more than 17 percent as of this writing after a dramatic rise last week.
To celebrate the opening of the new GM Factory Zero facility, General Motors CEO Mary Barra rang the NYSE opening bell from plant floor Wednesday morning. President Joe Biden is scheduled to tour the facility this afternoon.
GM Stock value previously hit a record high of $64 per share the second week of June, marking a new high for the “new GM” following a considerable rise in stock value in April driven primarily by the announcement of the all-electric Chevy Silverado EV.
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Yeah! GM getting some love and attention from investors today…
Has GM stated when Hummer production is officially beginning? Everything I keep seeing is suggesting by the end of the year?
Deliveries by the end of the year, production has started is clear in the pictures. Reservation holders have been receiving calls this week to firm their orders.
All of that production is staged – they are built in ‘stalls’ by hand, this isn’t a line, despite all of these vehicles being staged in a line.
Don’t expect more than 5000 sales in 2021.
Ah Wall Street. The most rigged irrational *market* in the world.
Your company beat earnings? Then your stock price must be punished.
Miss earning? Then let’s Jack up your stock price.
Wall Street sometimes gets it wrong, sometimes gets it right.. I would call it emotional, not rigged.
Wall Street is much more emotional today because we have normalized it.
Volatility used to be a rare occurrence and stock prices reflected reality & rationality instead of quick trade hyper-emotional BS.
As a result it’s much harder to invest and build wealth via the stock market if you don’t have the capacity to stare at the markets 24/7.
Wealth Building has always been hard, have to have an understanding of the market, consumers , investors, and global trends. You also have to have belief in your assessments to hang with stocks through downturns. Like me, not only hanging with GM but adding to my position a couple months ago when the stock was getting crushed. Individual Investors today act more like gamblers, and less like strategists.
Wall street volatility is nothing new, look at charts from 1990-2000, it was crazy. Back then companies that had nothing but an office with a phone and a dream were going crazy… Then Pop… it all went away.
False. Wall Street wasn’t propped up like it is today by the Feds QEinfinity BS.
The Dot Com bubble burst in less than 2 years.
The housing market burst after 3-4 years in the mid 2000s.
Now we have asset bubbles that haven’t popped and have only gotten worst in the past 5 years.
There is no logical reason why the stock market recovered all the Covid losses in 2-3 months when the entire economy didn’t recover for 18 months. That shows an out of control stock market that needs reigned in by the feds.
The stock market needs to be tied closely to economic conditions. Period.
It doesn’t need to be “reigned in” by the feds, it needs the feds out of it. When Nancy invest in Tesla, then passes a trillion dollar spending spree with money for EV’s yeah, the stock market will do insane things. Get the feds out, stop propping up big banks so they won’t give oversized home loans that caused the 2008 crash, stop interfering!
An PS, anyone who things we need feds to control to “prevent big businesses from monopolizing the stock market” since when has regulation ever been written to help the little guy. The little guy dances around the big guys every time the market is fair, and in the case of GameStop, even when all the stops are pulled to squash the little guy.
Sounds like you got caught on the wrong side of some trades? The stock market is always 6-12 months ahead of the economy. Its not the other way around and never has been.
The dot com bubble built up over a decade, I know I was trading then too. I remember a lot of the hot companies then just disappeared.
When covid hit the USA in March 2020, the market corrected like usual, nobody knew how long we would be shut down or even what the path forward was, then the government dumped helicopter money on top of everyone, and an at home buying spree started. Some companies never saw a dip, Apple, Tesla, and many others just rolled right through it, New Industries stood off like ZM, and others . When a correction like that happens its a great buying opportunity for someone like me, I totally took advantage. That’s when I got back into AAPL, GM, F, SPG, DRI, and TSLA. When there is blood in the water is when sharks come out to feast, and I sure did.
gm snagged 3 spots in car&driver’s 10 best. 2 blackwings and the c8. that must be some sort of record as far as recent memory goes.
That is impressive, the Blackings especially acing C & D chassis review.
I would sure hope that they get good ratings for cars hovering around the $100k mark. Now lets focus on making affordable cars get on that 10 best list.
They are getting good marks in a competition against cars much more expensive than they are. That really is the insane part. A 70,000$ car beating out a 130,000$ car is an insane accomplishment
It’s nice that they are opening the plant zero for GM . I can see the Hummers and all the new EV cars sucking up the chips that they should be putting in the trucks and cars that they’re building now . That is really not a very good plan on GM’s part . Because I think it’s going to bite them in the ass down the road . People need there orders filled without short changing them . They are not filling orders for people that ordered vehicles and people are not going to forget it so easily. So good luck GMC I don’t think you’re making the right move by screwing the customers you got now , you’ll regret it later!
Ya, Just think the 100 Hummers, they have built so far could have donated their chips for 1 hour or production at Flint, and GM could fall further behind in EV’s… Sure glad people like you are not calling the shots at GM or the stock instead of going “upnorth” would turn and go “downsouth”
Exactly. This is all for show. The battery factory in Lordstown isn’t even finished. The packs for these vehicles (picture) are being built elsewhere and shipped to GM in low volume.
Of course they won’t build Bolt batteries there. They don’t care when the poor customers that got screwed when they bought those defective, unsafe cars will be repaired.
Today Briggs and Stratton lawn mower engines are better than when the ICE engines started to dominate the market more than 110 years ago. EV is still in the learning and build out curve. How many years did it take for Tesla to start making a profit and able to build in the quantities promised. It was years and it started with poor fit and finish quality for the Model 3. Model X started relatively good and gave credence to the EV product. The world took notice and those that do not adapt will be out.