GM Stock Hits All-Time High at $40.17

General Motors stock price hit an all-time high on Friday, topping $40 a share for the first time since the Detroit-based manufacturer went public in 2010.
General Motors 1 photo
Photo: The Guardian
GM shares rose 2.8 percent to $40.17 as the US Treasury is about to sell its remaining General Motors stock by the end of the year. The government held a 61 percent stake as part of the $49.5 billion federal bailout, recovering about $38.4 million as of last month.

The Treasury still has about 31.1 million shares to get rid of and experts estimate there will be a loss of about $10 billion once the last shares are sold. Meanwhile, analysts claim GM stock will continue to rise to $47 per share.

Last month, GM said they’re “making great progress in our efforts to make the most of this second chance by building outstanding cars and trucks, creating jobs and reinvesting in our country.”

Story via DetroitNews
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About the author: Ciprian Florea
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Ask Ciprian about cars and he'll reveal an obsession with classics and an annoyance with modern design cues. Read his articles and you'll understand why his ideal SUV is the 1969 Chevrolet K5 Blazer.
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