GM Stock Value Drops 1 Percent During Week Of November 29 – December 3, 2021
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The value of GM stock was down during the week of November 29th to December 3rd, 2021, compared to the stock’s closing value the week prior. Shares closed this week at $59.71 per share, representing a decrease of $0.46, or 0.76 percent compared to the previous week’s closing of $60.17.
Movement & Range
| Date | Open | Close/Last | High | Low |
|---|---|---|---|---|
| 12/3/2021 | $61.24 | $59.71 | $61.69 | $58.87 |
| 12/2/2021 | $58.75 | $61.02 | $61.30 | $58.70 |
| 12/1/2021 | $59.25 | $58.06 | $60.59 | $58.01 |
| 11/30/2021 | $59.20 | $57.87 | $59.84 | $57.44 |
| 11/29/2021 | $61.11 | $59.86 | $61.54 | $59.65 |
By comparison, shares of GM’s cross-town rival, Ford Motor Company, decreased 3.09 percent, or $0.61, during the same timeframe.
GM Stock Factors
GM stock value fell slightly this week after two weeks of losses, which follow back-to-back 8-percent increases in the weeks prior.
Some of the factors affecting GM stock value this week include the announcement that GM will retrofit models affected by the deletion of certain comfort features, including heated seats and heated steering wheels. GM also released a service update for V8 engines affected by valve lifter issues.
On The EV front, GM announced a new joint venture with POSCO Chemical to process materials for the automaker’s Ultium batteries. GM is also exploring the possibility of manufacturing EVs in Egypt. Unfortunately, rival automaker Ford is currently on track to sell more EVs than GM this year, mostly down to a production stoppage for the Chevy Bolt EV and EUV, which was recently extended through January. In further production news, production of the Chevy Colorado and GMC Canyon will be down through December.
However, some good news on the manufacturing front, as GM recently raised its profit outlook on the back of an improvement to the microchip shortage.
GM Stock Value Macro Factors – Strategy
General Motors continues to drive towards mass adoption of all-electric vehicles. Most recently, the automaker hosted the grand opening of its new GM Factory Zero production facility in Michigan, GM’s first dedicated all-electric vehicle assembly plant. The first product set to roll of the line will be the 2022 GMC Hummer EV Pickup. GM CEO Mary Barra rang the NYSE opening bell from the factory floor the morning of the plant’s opening, and President Biden visited for a tour, driving the new Hummer. GM stock value rose to $65 per share following the opening. GM later revealed that reservations for the GMC Hummer EV rose considerably in November following the media event.
During the previous GM Investor Day event, GM announced several future plans regarding its business, strategy and products. It expects to double its revenue by 2030 through new software platforms and connectivity, as well as the integration of OnStar Insurance with the vehicle purchase process.
Thanks to its electric and autonomous vehicle strategy incorporating Ultium batteries and Ultium Drive powertrains, investor firm Tudor Pickering raised its GM stock price target from $75 to $95. On the money side of business, General Motors will launch Cadillac Financial in 2022, creating a more customized experience for Cadillac luxury brand shoppers.
Last year, GM CEO Mary Barra shared the company’s plan to launch a total of 30 new electric vehicles globally by 2025, with a total investment of $7 billion. To put that in perspective, 40 percent of GM’s offerings will be fully electric by the end of 2025, compared to just three percent in 2021. GM CEO Mary Barra has stated that General Motors could catch up to Tesla in EV sales by 2025, while also announcing plans to build 40,000 new charging stations throughout North America. GM has also made a commitment to phase out fossil fuel vehicles by 2040.
GM previously announced an increase in EV and AV investment, with a whopping $35 billion earmarked between now and 2025. Additionally, GM has announced an investment of $71 million for the new Advanced Design and Technology campus in Pasadena, and a cash infusion for AI vision software company Algolux.
More recently, GM laid out its plans to roll out new software such as the Future Roads data platform, enhanced subscription services, and the expansion of the OnStar Insurance service to all 50 states by 2022. GM’s Cruise autonomous vehicle brand is expected to rake in $50 billion over the coming years. On the production front, half of all GM North American and Chinese production facilities will be capable of producing electric vehicles by 2030. GM also announced details for hotly anticipated future products like the Chevy Silverado EV.
GM Stock Value Macro Factors – Sales
General Motors previously reported its third-quarter sales figures, headlined by a 33-percent decrease in sales in the U.S., down to 446,997 units. Sales decreased at all four of GM’s U.S. brands. GM cites supply disruptions resulting from the ongoing global microchip shortage, but adds that supplies are “improving.”
General Motors posted a 34-percent sales gain for the Canadian market, as well as a 5-percent increase in China where GM just opened its expanded Advanced Design Center. However, Toyota outsold the General in the U.S. during the second quarter of the year, although by only 577 units.
GM China sales were down 19 percent in Q3 2021 and GM Mexico sales dropped by 30 percent in September. On a brighter note, SAIC-GM-Wuling’s fully electric minicar in China, the Wuling Hong Guang MINI EV, recently reached the milestone of 400,000 units produced since its launch in 2020.
Previously, second-quarter sales were headlined by a 40-percent jump in the U.S., with sales increasing for all four of GM’s U.S. brands. Further back, first quarter sales for the 2021 calendar year included an increase of 4 percent to 642,250 units in the U.S. market. Sales increased at Buick, Cadillac, and GMC brands, while sales decreased at Chevrolet.
GM Q3 2021 Global Deliveries
* Vehicle deliveries in thousands| Q3 2021 / Q3 2020 | Q3 2021 | Q3 2020 | YTD 2021 / YTD 2020 | YTD 2021 | YTD 2020 | |
|---|---|---|---|---|---|---|
| Global Deliveries | -27% | 1,311 | 1,790 | -15% | 4,812 | 5,681 |
| North America | -32% | 522 | 765 | -18% | 2,062 | 2,514 |
| - U.S.A | -33% | 447 | 665 | -17% | 1,777 | 2,152 |
| Asia/Pacific, Middle East and Africa | -20% | 719 | 903 | -7% | 2,474 | 2,674 |
| - China | -19% | 624 | 771 | -5% | 2,155 | 2,258 |
| South America | -43% | 70 | 122 | -44% | 276 | 493 |
| - Brazil | -59% | 36 | 88 | -53% | 161 | 346 |
GM Stock Value Macro Factors – Earnings
GM’s Q3 2021 earnings were headlined by $2.4 billion in income on $26.8 billion in revenue, a 40-percent decline in income and 25-percent decline in revenue. Investors reacted with disappointment to the automaker’s 2021 profit forecast in the wake of the ongoing global microchip shortage and increasing commodity prices.
Previously, GM’s Q2 2021 earnings results were headlined by $2.8 billion in income on $34.2 billion in revenue. The figures represent a 450-percent jump in income and 103-percent increase in revenue.
Earlier in the year, GM reported its Q1 2021 earnings, including $3 billion on $32.5 billion in revenue, a 900-percent jump in income and 0.6 percent decrease in revenue compared to Q1 of 2020. GM stated that the earnings were driven by strong price and mix performance in North America, as well as strong credit and residual value performance at GM Financial, and industry recovery in China.
GM Q3 2021 Earnings Summary
Figures in billions of USD, except for per share amounts and percentages.| Q3 2021 | Q3 2020 | Q3 2021 - Q3 2020 | % CHANGE Q3 2021 / Q3 2020 | |
|---|---|---|---|---|
| GAAP METRICS | ||||
| REVENUE | $26,779 | $35,480 | $-8,701 | -24.5% |
| NET INCOME | $2,420 | $4,045 | $-1,625 | -40.2% |
| EARNINGS PER SHARE (EPS) DILUTED | $1.62 | $2.78 | $-1.2 | -41.7% |
| NON GAAP METRICS | ||||
| EBIT-ADJUSTED | $2,922 | $5,284 | $-2,362 | -44.7% |
| EBIT-ADJUSTED MARGIN | 10.9% | 14.9% | -4.0% | 18.9% |
| AUTOMOTIVE OPERATING CASH FLOW | -$2,602 | $9,935 | -$12,537 | -126.2% |
| ADJUSTED AUTOMOTIVE FREE CASH FLOW | -$4,385 | $9,122 | -$13,507 | -148.1% |
| EPS DILUTED - ADJUSTED | $1.52 | $2.83 | $-1.3 | -46.3% |
| DIVISIONAL RESULTS | ||||
| GM NORTH AMERICA EBIT-ADJUSTED | $2,125 | $4,366 | $-2,241 | -51.3% |
| - GM NORTH AMERICA EBIT-ADJUSTED MARGIN | 10.3% | 15.0% | -4.7% | N/A |
| GM INTERNATIONAL EBIT-ADJUSTED | $229 | $10 | $+219 | +2190% |
| - CHINA EQUITY INCOME | $270 | $262 | $+8.0 | +3.1% |
| GM FINANCIAL EBT-ADJUSTED | $1,093 | $1,207 | $-114.0 | -9.4% |
GM Stock Value Macro Factors – Products
General Motors recently unveiled several new concepts at the 2021 SEMA Show in Las Vegas, including the Chevy Beast off-roading concept, the all-electric Chevy Project X, and the Silverado High Country Midnight concept.
Previously, GM debuted the fully refreshed 2022 GMC Sierra 1500, which includes two new trim levels, new styling, the latest technology features, and more. GM also recently unveiled the new Chevrolet Performance ZZ632 crate engine, as well as the new 2023 Chevy Corvette Z06 sports car.
GM has also debuted the BrightDrop EV600 all-electric light commercial vehicle. The new van is the fastest-developed vehicle in GM history. The EV600 will be joined by the smaller BrightDrop EV410. Merchant Fleet recently placed an order for 5,400 units of the new EV410.
On the software front, GM debuted its new Ultifi end-to-end software platform, designed to provide the latest upgrades and features to future GM vehicles via over-the-air updates.
Even more critical is the debut of the refreshed 2022 Chevy Silverado 1500, which introduces a raft of changes and updates over the preceding 2021 model year and pre-refresh 2022 Chevy Silverado 1500 Limited, such as an all-new interior, updated technology, and the new Silverado ZR2 off-roader.
GM stock values rose considerably in April, driven primarily by confirmation of an upcoming all-electric iteration of the popular Chevy Silverado pickup truck. GM stock value hit a record high of $63.44 per share following the announcement, surpassing the $64 mark the second week of June and setting a new record for the “new GM.”
In February, General Motors unveiled the refreshed 2022 Chevrolet Bolt EV and all-new 2022 Chevrolet Bolt EUV, expanding the automaker’s all-electric offerings.
Much of the upward momentum in GM stock value seen in January was attributed to the automaker’s latest all-electric vehicle efforts, debuts, and strategy, which includes an in-depth presentation released during the Consumer Electronics Show (CES) tech conference. Highlights from the presentation include the launch of BrightDrop, a new business venture aimed at providing last-mile electric delivery solutions, software, and services to delivery and logistics companies. In late June, GM announced an accelerated timeline for conversion of the GM CAMI Assembly plant in Ingersoll as the all-electric BrightDrop EV600 light commercial vehicle heads towards production.
Cadillac dealerships are now preparing for the arrival of the Lyriq and future all-electric Cadillac models with a slew of upgrades. The new Lyriq is expected to enter production at the end of March in the 2022 calendar year.
What’s more, GM announced the new Ultra Cruise autonomous driving system, which promises true “door-to-door hands-free driving” capabilities in 95 percent of all driving scenarios, with plans to eventually make the system available on every paved road in the U.S. and Canada.
GM Stock Value Macro Factors – Events
The global microchip shortage continues, affecting GM stock value by impacting production, vehicle supply, and pricing. A recent analysis predicts that the shortage may end up costing the global auto industry upwards of $210 billion in lost revenue, almost twice what was originally forecast. General Motors president Mark Reuss recently indicated that he expects the microchip supply to stabilize at a lower level than desired for full recovery. General Motors is also currently gearing up to make significant changes to its supply chain in the hopes of avoiding future shortages. That includes the development of new microcontrollers.
In the meantime, GM has announced that it has shipped half of the pickup truck models stockpiled per the automaker’s “build-shy” strategy. SAIC-GM-Wuling has announced that it is developing its own microchips, which could help to soften the blow of future chip shortages. GM CFO Paul Jacobson also indicated that the chip supply is expected to even out sometime next year as suppliers catch up to demand. Experts are now predicting that the semiconductor crisis could last in 2023.
It was previously reported that GM is stockpiling unfinished vehicles waiting for new chips to arrive in a “build-shy” strategy intended to keep production rolling. Additionally, GM is building select units of the 2021 Chevy Silverado 1500 and 2021 GMC Sierra 1500 without certain fuel-saving technologies as a result of the shortage, including automatic engine stop-start. GM’s range of full-size SUVs is also rolling off the line without automatic stop-start. More recently, however, GM announced that production of the 3.0L I6 LM2 turbodiesel Duramax engine for GM’s full-size SUV lineup had resumed.
An emergency funding proposal earmarks $52 billion to support domestic chip production, including funds to support construction of 10 new semiconductor chip plants. The bill recently passed the U.S. Senate.
In the face of dwindling vehicle inventory, GM Financial has announced it will stop end-of-lease purchases with non-GM dealers, thus prioritizing participating GM dealers with regard to access to vehicles reentering the market.
GM Stock Value Micro Factors
The General previously announced that LG Electronics Inc. has agreed to over $1.9 billion of the $2 billion in costs associated with the replacement of the recalled Chevy Bolt EV and Chevy Bolt EUV battery packs. A new software update related to the recall was also recently issued. GM has announced that Chevy Bolt EV and Bolt EUV production will be offline for the remainder of the year.
GM previously announced that it will replace the battery modules on roughly 50,000 units of the 2017 though 2019 Chevy Bolt EV affected by a potential fire risk. The automaker later decided to extend the battery replacement on all model years of the Bolt EV, in addition to the all-new Bolt EUV. Despite the fault laying with battery producer LG Energy Solution, GM CEO Mary Barra announced that GM will continue its relationship with LG going forward.
Several other GM recalls have also been announced in recent months, the most significant of which involves roof rail airbags that could rupture in more than 400,000 units of the Chevy Silverado and GMC Sierra, followed by a block heater cable short circuit issue in some 330,000 units of the Silverado HD and Sierra HD.
In legal news, a class action lawsuit filed against General Motors regarding oil consumption issues for the 5.3L V8 was dismissed in Virginia. Additionally, General Motors and its autonomous vehicle subsidiary, Cruise, came to a settlement after filing a lawsuit against Ford over its BlueCruise highway driving assistant system. A judge recently tossed out a lawsuit filed by General Motors against Fiat Chrysler/Stellantis regarding accusations regarding a labor conspiracy, however, FCA has now accused GM of corporate espionage.
In political news, General Motors voiced support for the EPA’s proposed emissions rule changes. GM also indicated that it is on track to hit carbon neutrality for its U.S. operations by 2025, five years earlier than originally announced. The Biden administration recently proposed a new EV incentive offering point-of-sale rebates on new electric vehicles. Earlier this year, lawmakers urged the EPA to reinstate California’s right to set its own vehicle emission rules, while the Biden administration is urging automakers to ensure that their vehicle lineups consist of at least 40 percent EVs by 2030.
Good news recently came out of Asia, as GM Korea recently reached an agreement with workers regarding a wage increase. Further good news comes from Mexico as well following the resolution of a labor dispute at the GM Silao production facility. In America, the greater auto industry, including the UAW workers union and major manufacturers like General Motors, previously called on President Biden to roll out tax credits and incentives to drive EV sales. The latest is that the Biden Administration plans to roll out a $100 billion plan for new EV rebates.
Stock Performance Year-To-Date
GM stock value has increased considerably over the past year, only to later rescind some of those gains and fall below the $50-per-share mark. Now, GM stock value is back on the rise, hovering above the $60-per-share mark.
Some of the biggest gains were seen in January, during which GM stock value peaked around $55 per share, before falling later in the month. In February, GM stock value clawed its way back to the mid-$55 range before falling to $50 per share in early March.
| Month | Opening Value |
|---|---|
| January 4th | $41.95 |
| February 1st | $51.46 |
| March 1st | $52.41 |
| April 1st | $57.92 |
| May 3rd | $57.60 |
| June 1st | $59.99 |
| July 1st | $59.44 |
| August 2nd | $57.03 |
| September 1st | $49.15 |
| October 1st | $53.13 |
| November 1st | $54.85 |
| December 1st | $58.06 |
GM stock value saw steady gains throughout the month of March before dipping again later in the month, only to rise to record-breaking heights in early April, once again breaking the $60-per-share mark. GM stock value dipped through the month of May, but reached $64 per share the second week of June, setting a new record for the “new GM.”
GM stock value began to slide around mid-June, dipping below the $60-per-share mark in July. In September, GM stock value remained around $50-per-share, rising considerably in the first few weeks of October. Now, GM stock value is back on the rise in November, settling around $60 per share in December.
We’ll continue to stay on top of all the latest developments related to GM stock, so be sure to subscribe to GM Authority for ongoing GM stock news and complete GM news coverage.
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It was a rough week overall for the markets, especially tech, and EV makers which saw double digit losses. New strains of Covid 19 are marking the markets nervous again, which creates buying opportunities, before the Christmas rally. I am starting to do some buying, but if we hit another leg down, I will be buying aggressively.
Good I hope the wallstreet pigs continue to have bad days. Best case scenario is all the pigs who invest in this nonsense lose everything.
Thats really a nice comment… Pigs? I love it, but smart investors make money when the market goes down too because we hedge with options. If the market moves either way it is profitable, a stagnant market is the worst, then you have to rely on dividends. 2020, and 2021 have been such great years for the market, its hard to believe this can continue much longer.
It is nice I was thinking of other words but they wouldn’t of been approved on here so pigs is the clean version. Wallstreet and investors are trash majority of Americans can care less what happens to them. You wanna gamble your money away then don’t cry when you lose it.
Well Tim, I find it interesting you are so negative and wish other people to fail and lose, do you think that is cool to wish bad things on other people? Why do you feel so much negativity towards 56% of Americans? Yeah, 56% of Americans have some money in the market.
Going back to my core beliefs, I hope everyone succeeds in every thing they can. I never wish bad luck or worse on anyone. Do that too much and karma takes a bite out of you at some point.
Well Donavan you must be out of touch with the average American as I said before majority of Americans don’t care about the wallstreet pigs or the pig investors those people have purposely ruined a lot of peoples lives and continue to do so. So yes I do wish those that screw people daily will fail the fact you don’t tells me exactly what I need to know about you.
Tim, you are obviously disconnected from reality. Investors want the companies they invest in to be more healthy. Business is not a social program anymore than a good paying job is a right. Sometimes a business has to downsize to become more healthy, which is what has happened with GM. Today GM is smaller than they were a few years ago, but at the same time more profitable, and has a stronger balance sheet. Now GM can rebuild and grow with modern products they can make money on instead of building previous cars that were losers. Hummer is a new segment for GM, as is BrightDrop, and making batteries. I see GM growing substantially in the next 18 months and creating thousands of new jobs. GM is hiring as fast as they can right now, and struggling to fill positions. Pig investors do not want to ruin peoples lives, but sometimes you have to change how you are doing things, and evolve with the world.
Lmao just stop you sound like a fool does GameStop ring a bell?
That’s not true at all. First off you’re more then likely not a huge investor in these companies the reason I say that? Is because you bicker with people on here over nonsense, maybe I’m wrong maybe you are a big investor but you would be the first I have ever heard of or seen that does that kind of thing. Second there are plenty of hedge funds and big investors that want companies to fail. You stick up for the big boys on wall st a lot you must think they are going to see what you write here. The person above named GameStop which is a great example of what these hedge funds do to people they wanted GameStop to fail and it backfired on them and they lost billions.
What is not true at all? GM Hiring? Check online, GM is looking for thousands of people right now. I do not stick up for big boys or short selling hedge funds, but I do stick to facts, and not emotions. Without investors there would be no GM, no Ford, and any other company. Investors fund the projects and investments. As for Gamestop, that is a meme, not an investment. You would never see me anywhere stocks like that, or cryptos. I only buy companies that have have profits or at least a path to profits. I invest in GM because they are doing the right things to grow the business in the future, and are preparing for the new reality post internal combustion. I have done well with GM, both long term and trading. I have done well with Ford too, even better actually.
As for me bickering with people on here, it’s because many of the people on here do not have the first clue about the things they talk about, and say things that are complete nonsense. Bottom line, nobody can predict day to day or week to week market trends, but I typically can predict the general direction of the investments I make, and know what the companies should be worth and why. That’s why I stay in GM, I think it’s going higher in the next 1 month, 6 month, and 1 year. As for week to week its anybody’s guess?
So wait a min GameStop which has made way more money then gm could ever dream of making in a very short amount of time mind you is somehow a meme stock? You sound mad the hedge fund lost a lot of money.
How much more success do the cats on Wall Street need?
Investors are going to continue to make money over the long haul…
If karma was real then gm and the other companies and banks that got bailed out in 08 would of never happened. That just proves “karma” only happens to the little guy.
Just as I predicted 10 weeks ago I am so smart when it comes to this stuff I know exactly what’s going to happen.
GM stock 15% higher then it was 10 weeks ago… good prediction…
Another prediction, GM will hit $68 or higher sometime before January 15th.
GM stock will continue to go down, cause they aren’t selling cars. Sales are down all over the world for GM products. At least that’s what GM Authority reports.
This is the truth. Eventually gm will have to make low profit margin vehicles that are competitive in the segment, If not they will continue to hemorrhage market share to the Korean and Japanese brands. It’s great that gm has huge profits, but it’s fairly obviously at the expense of market share. The bull market will eventually slow down again, and the lowercase gm antics will have to stop. Mary will have to cash completely out sooner or later, I’d bet on sooner.
Except the CFO for GM was on record last week saying GM will not only meet the high end of their 2021 profit guidance but they will beat it… Profit is what matters, selling high profit cars are what matters…
There is a different kind of investors buying GM stock now, and a different kind of analysts coving GM, we could care less about volume, we want to see profit, and technology.
lol
There are way better stocks out there than gm. going up 10 bucks in 2 years ain’t hot.
That’s true, but GM is up 80% in the last 2 years which beats the S&P 500, and and Dow , so that means it’s better than average.
Im sure Mary will convince the board to do another stock buy back to increase the stock price and her bonus package.
GM has not bought back any stock in the last 20 months, Investing money in EV’s instead, and BTW during that time the stock is up 225%… hmm, Wall Street likes EV’s…
GM was trading at $18 on April 3 2020… Today is $60 I started buying into GM Right about that time, its been a fun ride…