General Motors had no shortage of headline stories this week. Most notable of which being that the company plans to largely withdraw Chevrolet from the European market. While concerning at the surface, it seems Wall Street likes the idea, with shares closing at $40.17, breaking the $40 mark, and even reaching as high as $40.38 mid-day. This marks a new 52-week high.
Share prices of GM stock also continue to swell in anticipation of the U.S. Treasury unloading all remaining shares of the company by year’s end.