Risk-off mood drags General Motors 3.55% lower

Published: March 19 2023, 10:31 GMT+0

Risk-off mood drags General Motors 3.55% lower

Friday at a glance: during Friday's session, General Motors Co toiled and struggled for upward momentum before closing at $33.38. By the close, the the prominent US automaker suffered a $1.23 or 3.55% loss.

  • Daily trading volume (27 million shares) was higher than the current multiday average of 13.60 million.
  • General Motors discloses 9 cents per share dividend to be paid on Thursday, March 16th

The opening bell in a day time follows Friday's session in which S&P 500 fell 1.1% and reached 3,916.64. GM closed lower Friday, with similar drops noticed throughout the Consumer Cyclical sector (down 0.647%).

The US car giant is now trading 8% below its 3-month high of $46.26. So far this year, it has been beating the S&P by 5.14%. General Motors has a market cap of $46.55 billion with an average daily volume of 13.60 million shares. General Motors's last revenue report was $43.11 billion with an EPS of $2.12.

GM disclosed a quarterly dividend of 9 cents per share on Wednesday, February 1st that was paid on Thursday, March 16th to all shareholders of record up until Friday, March 3rd. Based on current prices, the company's decision thereby provides GM investors with an annual dividend yield of 1.08%.

General Motors was not the only decliner in the consumer discretionary sector; Toyota went down to $133.48, losing 1.78% after it closed at $135.9 Friday. McDonald's closed at $267.2 (down 1.25%). Walt Disney closed at $93.2 (down 1.16%).