Treasury Sells Off $156.4M In GM Stock
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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.
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$12B loss, all things considered, isn’t THAT bad. It’s not great, not even good. But the World (not just US) would be a far lot worse had GM actually tanked.
It’s a start. only 295 million shares to go.
What percentatge of GM does the Government own now?
I cannot imagine a world without GM & yes they are the only manufature that do it for me too 😀 there are occasions I get frustrated with them for dropping a coupe from the range, or not offering more RWD V8 saloons, coupes & utes. Hybrids too annoy me (think that’s more to do with the hybrid owners & the fact the hybrid car looses money) plus points are desirable well built cars, with excellent performance, great looks that handle well, & with plenty of dealers nationwide & a middle to high price £ (normal/prestige) dose it for me. 🙂