Maybe GM’s woes shouldn’t surprise anyone, but I find it remarkable that not only is GM’s stock trading at a 34-year low, but also that its market capitalization is $5.65 billion. That is less than 4% of Toyota’s market capitalization of of $144 billion.
This is particularly striking given GM’s enormous size and still-significant market share in a major industry. Another way of looking at it: Google’s market capitalization per employee, admittedly higher than most companies’, is $8,641,679. GM’s is $21,241 per employee.
Of course, GM is saddled with enormous legacy costs, a shift away from its most profitable products, etc. But still, it is remarkable that the entirety of its market value equals about half a year’s wages for each of its employees.