GM’s Market Value Is Only $7 Billion – Half That of Avon
How the mighty have fallen.
At one time, General Motors was considered the pre-eminent US corporation, a giant among giants.
But now, on news that Goldman Sachs reduced the company’s rating to “sell”, GM’s shares (NYSE:GM – News) have plummeted to less than $12, the lowest level since 1955.
That means the world’s largest auto maker has a stock market value of only about $7 billion. That compares with a market cap of about $56 billion in 2000, when the stock was at its all-time high of $94.62 a share.
To put that in even more perspective, GM’s market value is now roughly equivalent to that of tax-preparation provider H&R Block (NYSE: hrb) or toy maker Mattel (NYSE: mat).
Even more humbling for the auto maker, GM’s value is now:
* Half that of cosmetics company Avon (NYSE: avp)
* A third of cruise operator Carnival Cruiselines (NYSE: ccl)
* A quarter of Internet media company Yahoo! (NASDAQ: yhoo)
* A fifth of online auction house Ebay (NASDAQ: ebay)
* A sixth of retailer Home Depot (NYSE: hd)
* A seventh of biotech firm Amgen’s (NASDAQ: amgn) league
* An eighth of drugstore chain CVS (NYSE: cvs)
* A ninth of fast-food giant McDonald’s (NYSE: mcd)
Last, but not least, GM is now 1/66th the size of fellow Dow component Exxon. (NYSE: xom)
