When the New General Motors became a public company with its IPO in November 2010, the stock opened at $33 per share. Then things went south. And as recently as a year ago (or even less), the automaker’s stock was at a disappointing $18.72, the lowest since going public. But today, General Motors closed at $33.42 — higher  the IPO price, and continuing an upward trend.
So far this year, GM’s shares have increased in value by 14.5 percent over last year, with analysts bullish on the stock’s future. For the curious, the U.S. Treasury would need to sell its remaining stake at roughly $79 a share to break even, though the government’s investment was more about saving jobs than making money. Meanwhile, the Treasury does plan on gradually selling off its remaining stake in the company in the coming months.
So, did you buy any GM shares last year? Are you planning on buying in the future? Talk to us in the comments.
Comments
Selling off its GM stock slowly is the best option that the Government can do now. Selling too much suddenly will drop the price.
I’m looking for General Motors stock to top off at around $45 by the time the government sells it’s last remaining shares. I do not think General Motors will see $79 ever again.
I’m glad to see the gov’t slowly divesting itself of GM stock.
http://www.fool.com/investing/general/2013/05/19/how-much-gm-truly-stole-from-american-taxpayers.aspx
It sure sucks on how much money the taxpayers, you and I, got screwed on over GM’s pathetic management over the last 10 years.
Michael W, have you ever took a second to think about how much in taxes General Motors has paid to the Federal, State and Local governments over the past one hundred years?