Report: GM stock hits all-time high above $40

[Haltech]

Filed under: GM, Earnings/Financials

When we want to know how a car company is doing, one thing we typically look at is how many cars it's selling. That means Toyota is the largest, General Motors the second, followed by Volkswagen, then down the line. But there are other metrics by which to evaluate how an automaker is doing. That, in the case of publicly-traded companies like GM, is stock price. And the General seems to be doing pretty well.

Following the government bailout and the restructuring of one of America's largest corporations and employers, GM issued its Initial Public Offering in 2010 at $33 per share. Prices have meandered in the years since, but The Detroit News reports that GM's stock has now broken through the $40-per-share mark for the first time since hitting the market over three years ago. That's an all-time high for "New GM." Interestingly, some analysts, including Morgan Stanley, are predicting that the share price will continue to rise to $45 or even $47 per share.

The rise in price reportedly resulted principally from the US Treasury Department approaching complete divestment from the company, selling off the remainder of the 61 percent stake it acquired when it bailed GM out for nearly $50 billion.GM stock hits all-time high above $40 originally appeared on Autoblog on Sun, 08 Dec 2013 14:15:00 EST. Please see our terms for use of feeds.



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