Despite General Motors turning a profit for six consecutive quarters, the company’s stock seems to suggest otherwise as it continues to roll downhill farther from its IPO price of $33 per share, and even farther from its 52-week high asking price of $39.48 earlier this year.
Despite The General’s solid quarterly performances, it’s the lingering forecast that the auto industry as a whole won’t finish the year with as much success as once thought as well as dips in the stock prices of other automakers that are partly responsible for GM’s drop.
Source: The Detroit News
Comments
Now is a good time to buy. GM’s stock, when factoring its global operations and not just its North American operations, simply has too much good momentum behind it.
Bogus, have to agree with Auto Tribute though, the commoner can now own a piece of GM…
bring the share very low…..and some big pocket get big share…and bring the price high to get good profit….sold…