Stock Market Cafe
  • Home
  • Trading News
  • Email Whitelisting
  • Privacy Policy
  • Home
  • Trading News
  • Email Whitelisting
  • Privacy Policy
No Result
View All Result
Stock Market Cafe
No Result
View All Result
Home Trading News

GM stock hits record high as automaker celebrates Hummer EV production

by
November 17, 2021
in Trading News
0
0
SHARES
0
VIEWS
Share on FacebookShare on Twitter

RELATED POSTS

Stripe tells employees it will decide on an IPO within the next year

The rally that won’t quit says it’s not all about the Fed — listen to Thursday’s ‘Homestretch’

DETROIT – General Motors is steadily approaching a $100 billion market valuation after shares of the automaker reached a record high on Wednesday.

GM’s gains come as shares of newly public electric vehicle start-ups Rivian and Lucid Group, which briefly surpassed GM in market cap Wednesday, lost steam following extraordinary double-digit runups in the past week.

GM is celebrating the opening of its first dedicated electric vehicle plant in Detroit. GM CEO Mary Barra rang the opening bell from the facility earlier on Wednesday; President Joe Biden will visit the plant in the afternoon.

GM is currently making pre-production GMC Hummer EV pickups at the plant. Customer deliveries are expected to begin soon.

Production is now set to begin at the former Detroit-Hamtramck assembly plant, less than two years after GM announced the massive $2.2 billion investment to fully renovate the facility to build a variety of all-electric trucks and SUVs.

Photo by Jeffrey Sauger for General Motors

GM’s stock was at $64.69 a share as of 11 a.m., up by more than 3% and its highest price since emerging from bankruptcy in 2009. The company’s market cap was about $94 billion.

Shares of Rivian, which made its public debut last week, were down by as much as 18% Wednesday, wiping away billions of dollars in market cap. Its market value of about $128 billion remains far above GM and Ford Motor, but below Tesla, which surged to more than $1 trillion this year.

Lucid’s stock was somewhat volatile Wednesday morning, trading down by as much as 5% and up by as much as 4%. The company’s market cap is about $87 billion.

ShareTweetPin

Related Posts

Stripe tells employees it will decide on an IPO within the next year

by
January 26, 2023
0

Stripe co-founder and CEO, Patrick Collison Manuel Blondeau | Getty Images Stripe, the fintech company once valued at $95 billion...

The rally that won’t quit says it’s not all about the Fed — listen to Thursday’s ‘Homestretch’

by
January 26, 2023
0

Jim Cramer says that people just seem to want to own stocks this year. More soft-landing hopes after morning economic...

Tesla’s bounce on quarterly results can teach us something about mega-cap growth names

by
January 26, 2023
0

This is the daily notebook of Mike Santoli, CNBC's senior markets commentator, with ideas about trends, stocks and market statistics....

NBCUniversal expects Peacock losses to peak this year as streamer slowly adds subscribers

by
January 26, 2023
0

In this article CMCSA Follow your favorite stocksCREATE FREE ACCOUNT The NBCUniversal Inc. Peacock streaming service is displayed on a...

Microsoft’s AI push has some analysts raving about the stock even after lackluster earnings

by
January 26, 2023
0

Microsoft 's earnings report earlier this week was largely considered dissatisfying to analysts. But the tech giant's focus on artificial...

Next Post

Walmart, Target CEOs aren't worried about hiring amid the holiday shopping rush

White House says about 10% of 5- to 11-year-olds in U.S. already have first Covid shots

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

email

Get the daily email about stock.

Please Enter Your Email Address:

By opting in you agree to our Privacy Policy. You also agree to receive emails from us and our affiliates. Remember that you can opt-out any time, we hate spam too!

MOST VIEWED

  • Crocs sees fourth-quarter sales up 42%, CEO Andrew Rees says 2021 was ‘exceptional year’

    0 shares
    Share 0 Tweet 0
  • Biden didn’t accept Putin’s ‘red lines’ on Ukraine – here’s what that means

    0 shares
    Share 0 Tweet 0
  • Buying a car from the factory sounds expensive, but it can actually save you money. Here’s how to do it.

    0 shares
    Share 0 Tweet 0
  • The states that won’t tax military retirement in 2022

    0 shares
    Share 0 Tweet 0
  • Roth TSP vs. Roth IRA: How Do They Compare?

    0 shares
    Share 0 Tweet 0
  • Home
  • Trading News
  • Email Whitelisting
  • Privacy Policy
All rights reserved by www.stockmarket-cafe.com
No Result
View All Result
  • Home
  • Trading News
  • Email Whitelisting
  • Privacy Policy

All rights reserved by www.stockmarket-cafe.com