Car Detail Guys

Automotive News From Around the World
Menu
  • best car polish
  • best car wax
  • best scratch remover
  • car detailing
  • car detailing products
  • car scratch remover
  • News
  • Reviews
  • scratch doctor
  • swirl marks on car
  • Technology
  • Top Stories
  • Uncategorized

GM’s stock closes below IPO price for first time since October 2020

Jeff Lincoln June 14, 2022

Mary Barra, Chair and CEO of the Typical Motors Enterprise (GM), speaks through the Milken Institute International Meeting in Beverly Hills, California, on Could 2, 2022.

Patrick T. Fallon | AFP | Getty Images

DETROIT – Shares of Common Motors on Monday shut underneath the put up-bankrupt automaker’s $33 initial general public offering cost for the to start with time due to the fact Oct 2020.

Amid a wide marketplace sell-off that also pushed Ford Motor and Chrysler-mum or dad Stellantis to new 52-7 days lows, GM’s stock closed at $32.28 a share, down by 7.8%. Shares of GM have declined about 45% this yr, as fears of a recession mature and buyers question no matter if the automaker’s most lucrative times are behind it.

Tesla shares fall after Elon Musk’s firm cuts price of cars in China
Tesla shares fall after Elon Musk's firm cuts price of cars in ChinaRead more

GM and other automakers have reported history revenue for the duration of the coronavirus pandemic as resilient shopper need outweighed new vehicle inventories owing supply chain difficulties, which include a lack of semiconductor chips.

The circumstance triggered new vehicle charges to skyrocket with minimal incentives from the organizations, primary to file income despite decrease profits.

GM’s stock closing under the $33 a share IPO selling price from November 2010 transpired hours after the company’s annual shareholder assembly.

In reaction to a shareholder query about reinstating GM’s dividend, CEO Mary Barra said the firm’s “crystal clear priority” is to “accelerate our EV designs.” GM is in the midst of investing $35 billion in EVs and autonomous autos by 2025, with designs to solely give EVs by 2035.

Prev Article
Next Article

Related Articles

Nikola NKLA tender offer Romeo Power RMO acquisition completed
Nikola Motor Enterprise Source: Nikola Motor Enterprise Electrical large truck …

Nikola NKLA tender offer Romeo Power RMO acquisition completed

Jeep and Ram partner with Bono’s (RED) for special-edition vehicles
Bono at the 2016 Earth Economic Forum in Davos, Switzerland. …

Jeep and Ram partner with Bono’s (RED) for special-edition vehicles

About The Author

Jeff Lincoln

Recent Posts

  • Best Hybrid Suv Car And Driver
  • Current Available Electric Cars
  • Car With The Best Mpg Ever
  • Electric Vehicles With Awd
  • Suv All Electric Cars

Car Detail Guys

Automotive News From Around the World
Copyright © 2023 Car Detail Guys
Theme by Fashion Lift Tape

Ad Blocker Detected

Our website is made possible by displaying online advertisements to our visitors. Please consider supporting us by disabling your ad blocker.

Refresh
Manage Cookie Consent
To provide the best experiences, we use technologies like cookies to store and/or access device information. Consenting to these technologies will allow us to process data such as browsing behavior or unique IDs on this site. Not consenting or withdrawing consent, may adversely affect certain features and functions.
Functional Always active
The technical storage or access is strictly necessary for the legitimate purpose of enabling the use of a specific service explicitly requested by the subscriber or user, or for the sole purpose of carrying out the transmission of a communication over an electronic communications network.
Preferences
The technical storage or access is necessary for the legitimate purpose of storing preferences that are not requested by the subscriber or user.
Statistics
The technical storage or access that is used exclusively for statistical purposes. The technical storage or access that is used exclusively for anonymous statistical purposes. Without a subpoena, voluntary compliance on the part of your Internet Service Provider, or additional records from a third party, information stored or retrieved for this purpose alone cannot usually be used to identify you.
Marketing
The technical storage or access is required to create user profiles to send advertising, or to track the user on a website or across several websites for similar marketing purposes.
Manage options Manage services Manage vendors Read more about these purposes
View preferences
{title} {title} {title}