You've probably seen the tickers flashing on CNBC or scrolled past a chart on Yahoo Finance showing General Motors (GM) climbing steadily. Maybe you've even thought about buying the dip when it hit those lows back in 2023. But here’s the thing: if you look at a long-term chart of the gm historical stock price, you aren't seeing the whole story. Honestly, most people are looking at a "ghost" of a company without realizing it.
If you try to find GM's stock price from 1999, you’ll see numbers. But that isn't the same company you’re buying today. The "Old GM" basically vanished in 2009. It was a wipeout.
The Great Reset: Why 2010 is the Real Year Zero
Most investors assume that "historical" means a continuous line of data going back to the days of the Chevy Bel Air. It doesn’t. When General Motors filed for Chapter 11 bankruptcy in June 2009, the original common stock became virtually worthless. It was delisted from the NYSE and moved to the "pink sheets" under the ticker GMGMQ.
Eventually, those old shares were cancelled. Zero. Zip.
The gm historical stock price as we know it today actually begins on November 18, 2010. That was the "New GM" Initial Public Offering (IPO). The stock opened at $33 per share. It was a massive deal at the time—the federal government was trying to claw back the billions it spent on the bailout, and the IPO was the first step in "Government Motors" becoming a private company again.
If you bought $1,000 worth of shares at that 2010 IPO and just sat on them, you'd be looking at a decent, if not spectacular, return. By early 2026, that investment would have roughly doubled, representing a compound annual growth rate (CAGR) of about 8.38%. It’s not "NVDA-style" moon-landing growth, but for a legacy automaker, it’s a solid win.
The $85 Peak and the Recent Rollercoaster
Fast forward to January 8, 2026. GM hit an all-time closing high of $85.13.
Wait. Why then?
The market was high on the idea that GM had finally "solved" the EV transition. They were pushing out Ultium-based trucks and SUVs, and for a minute, it looked like they were going to eat Tesla's lunch in the suburban driveway segment. But then, the reality of the 2025 policy shifts hit.
Recent Milestones (2024–2026)
- April 2025: The stock took a massive 11% hit in a single week. Why? New 25% auto import tariffs were announced, and the market panicked about supply chains.
- September 2025: Federal EV tax credits—the $7,500 "juice" that was keeping sales alive—expired. GM’s strategy, which was heavily reliant on those subsidies, had to be rewritten on the fly.
- January 2026: Just days after hitting its all-time high, the stock slid 3% because the company announced a staggering $7.6 billion in total write-downs related to its EV and battery operations.
It’s been a wild ride. You've got these incredible highs followed by "slap-in-the-face" reality checks.
What Actually Drives the GM Historical Stock Price?
If you're tracking the gm historical stock price, you have to understand that this isn't just a car company anymore. It’s a software-and-battery company that happens to have wheels. Or at least, that’s what CEO Mary Barra wants you to believe.
Honestly, the price moves based on three big things:
- The ICE Piggy Bank: General Motors makes almost all its actual profit from "Internal Combustion Engine" (ICE) vehicles. Big trucks like the Silverado and SUVs like the Escalade are the "piggy bank." When gas prices are low and people are buying trucks, GM’s stock usually has a floor.
- The EV Money Pit: For the last five years, GM has been pouring billions into EVs. In late 2025 and early 2026, the market started punishing them for this. The $6 billion charge taken in January 2026 was a "wake-up call." Investors realized that building EVs is easy, but making money on them is hard.
- The Cruise Factor: GM owns a majority stake in Cruise, their autonomous vehicle division. When Cruise has a good month, the stock gets a "tech multiplier." When a Cruise car gets stuck in a San Francisco intersection, the stock gets a "legacy discount."
The "Optical Cheapness" Trap
For years, GM has traded at a Price-to-Earnings (P/E) ratio that looks insanely low—often between 5x and 7x. To a value investor, that looks like a steal. But many analysts, including those at Barclays and Deutsche Bank (who downgraded the stock in early 2025), argue that it’s a "value trap."
The logic? All those profits from gas-powered trucks are being set on fire to build an EV future that might not be as profitable.
Comparing the "Old" and "New" Price Trends
| Period | Event | Stock Movement |
|---|---|---|
| 2000-2008 | Pre-Bankruptcy | Dropped from ~$90 to under $1. |
| 2010-2013 | Post-IPO Recovery | Climbed from $33 to over $40 as profits returned. |
| 2020-2022 | The "Ultium" Hype | Shot up to the high $60s on EV promises. |
| 2024-2025 | Tariff & Subsidy Shock | Volatile swings between $41 and $85. |
Notice the gap between 2008 and 2010? That’s the black hole. If you see a chart that shows a smooth line through 2009, the data provider is probably "stitching" two different companies together. Don't fall for it.
Why the 2025 Dividend Matters
In a move that surprised some skeptics, GM actually grew its dividend slightly in late 2025, despite the EV charges. For people holding the stock long-term, this was a signal: "We have enough cash from the gas-guzzlers to pay you while we figure out the electric stuff."
That dividend yield, which has hovered around 0.7% to 1.2%, is a small but important part of the total return that doesn't show up in the basic gm historical stock price chart.
Misconceptions That Could Cost You Money
The biggest mistake? Thinking GM is "safe" because it’s "too big to fail." We already saw it fail once.
Another big one is ignoring the debt. GM has over $130 billion in debt. Now, a lot of that is tied to "GM Financial"—the arm that loans money to people to buy cars—so it's "good debt" in a sense. But if interest rates stay high, that debt gets more expensive to service, which puts downward pressure on the stock.
Basically, GM is a high-yield savings account tied to a high-stakes casino.
👉 See also: Peter Thiel and Bobby Wise Podcast: Why This Rare Talk Still Matters
Actionable Insights for Investors
If you're looking at the gm historical stock price and trying to decide your next move, keep these "expert" filters in mind:
- Watch the Inventory: If dealer inventory for Silverados and Sierras starts climbing above 60 days, GM usually has to offer "incentives" (discounts). This kills profit margins and usually leads to a stock drop.
- The 2026 "Correction" Forecast: Some traders, like those on Investing.com, have pointed out that after hitting $85, the stock is due for a "sharp correction" of up to 30% if the $6 billion EV charges aren't the end of the bad news.
- Total Return vs. Price: Don't just look at the price. Look at the "Adjusted Close," which includes dividends. Over the last 15 years, the dividends have added a significant chunk to the total wealth created.
- Policy Sensitivity: GM is now a "political stock." It moves on White House news about tariffs and climate mandates more than almost any other S&P 500 company.
The story of the General Motors stock price isn't a straight line—it’s a series of reboots. To win here, you have to stop looking at the 100-year history and start focusing on the 100-day execution.
To get a true sense of the company's valuation, your next move should be to pull the "Form 10-K" from the GM Investor Relations site and look specifically at the GMNA (North America) segment profit. If that number is shrinking, no amount of EV hype will save the stock price in the near term. You should also check the current inventory levels at major dealerships; a glut of unsold trucks is historically the most reliable "sell" signal for GM.