The United States Treasury is jettisoning more of its ownership in General Motors, this time in the form of a $156.4 million sale of company stock. The Treasury sold the amount last month, when GM stock was trading between $28 and $30 per share. The Treasury also sold a previous 200 million shares back to the automaker in December, which equated to a $5.5 billion deal.
This gradual sale strategy is meant to avoid disrupting the overall stock price. So far, Uncle Sam has recovered about $29 billion of the $49.5 billion it used to save the automaker back in 2009. To break even, the government will have to find itself selling its remaining shares at the unlikely price of $70. As such, the government stands to lose around $12 billion if it sold its remaining shares at the $26.41 trading price seen at the time of this writing.