$55.67
GM Stock Factors
GM stock value fell slightly this week after a small increase last week. The small changes seen recently follow consistent growth in January that put GM stock value above the $50 per share mark.
General Motors reported fourth-quarter earnings on Wednesday, beating Wall Street expectations with $1.93 in adjusted earnings per share (versus $1.64 expected) and $37.5 billion in revenue (versus $36.12 billion expected). GM said that it expects to earn between $10 billion and $11 billion in adjusted pretax profits this year, or $4.50 to $5.25 per share.
The Q4 earnings beat last year’s results, which were impacted by the 2019 UAW labor strike.
GM China sales fell 6 percent during the 2020 calendar year to 2,901,102 units, with sales falling for Chevrolet and Baojun brands, and increasing for Buick, Cadillac, and Wuling.
$50.44
GM Stock Factors
GM stock value rose this week after a small slide last week, which followed two weeks of consistent growth to break the $50 per share mark.
Much of the upward momentum seen in the weeks prior is 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.
BrightDrop EP1
The first BrightDrop product to market will be the EP1, an electrically assisted pallet with a 200-pound capacity and adjustable speed up to 3 mph. Following the EP1 will be the EV600, an electrically powered light commercial van incorporating GM’s Ultium batteries and drive motors, offering a max range of 250 miles and a GVWR of just under 10,000
$52.26
GM Stock Factors
This week, GM stock value continued its impressive upward momentum after last week’s 16-percent increase, hitting a high of $56.97 on Thursday, a record for the “new GM,” before backtracking on Friday to close out at $55.40 per share.
Much of the upward momentum is 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.
$40.14
By comparison, shares of GM’s cross-town rival, Ford Motor Company, increased $0.21 per share, or 2.38 percent, during the same timeframe.
GM Stock Factors
This was the first week GM stock value increased following two consecutive weeks of stable GM stock values. Here are some of the potential items that could be impacting current values.
Late in the week, General Motors unveiled a new corporate logo that includes lowercase script and a square border with rounded edges. The modernized logo was designed to recognize the automaker’s renewed focus on electric vehicles, as well as its vision for zero crashes, zero emissions, and zero congestion.