$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.
Meanwhile, electric vehicle startup Lordstown Motors recently began publicly trading on the NASDAQ as “RIDE.” This could seem favorable to investors, as GM previously announced it would invest $75 million into the EV startup, including $25 million in cash, and $50 million in production plant assets permits. The General also recently announced that it was investing further in Yoshi, an on-demand car maintenance startup company.
General Motors Ventures also invested in Envisics, a U.K.-based startup developing augmented reality (AR) technology for automotive applications. GM believes the tech may find a place in the automaker’s upcoming all-electric vehicles, such as the Cadillac Lyriq. In further tech news, GM recently announced it was opening a dedicated 3D printing center in Warren, Michigan to explore the technology’s production potential. What’s more, GM announced that its robo taxi division, GM Cruise, was now testing fully autonomous vehicles on the streets of San Fra