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GM Shares Rose 3 Percent To $37.66 On Monday After Capital Allocation Framework Announcement

General Motors’ announcement of a new capital allocation framework resulted in a 3 percent increase in the value of its stock. At the close of the stock market in New York on Monday, March 9th, GM shares rose to $37.66 per share.

The capital allocation framework establishes guidelines to return money to investors and committed former Obama auto task force member Harry Wilson to relinquish his bid for a seat on GM’s board of directors, as GM’s board approved a $5 billion stock buyback program.

GM’s shares gained 7.9 percent year-to-date March 9th, 2015. The gain is slightly higher as GM’s stock continued to creep up to $37.78 per share, up $0.23 per share, at market close on Wednesday, March 11th. GM finished the day with a market capitalization of $60.47 billion.

General Motors stock price from February 11, 2015 thru March 10, 2015. March 9 spike circled in red

General Motors stock price from February 11, 2015 thru March 10, 2015. March 9 spike circled in red

Monday’s value gains also brought with it higher trading volumes for GM shares. Whereas the automaker’s stock has a regular range of between 200,000 to 1 million trades per day on the New York Stock Exchange (NYSE), trading volume spiked to nearly 4 million shares on Monday, demonstrating that investors were indeed paying attention to GM’s move and took it as favorable news.

The GM Authority staff is comprised of columnists, interns, and other reporters who provide coverage of the latest General Motors news.

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