The first day of a new era for General Motors has ended. The automaker released its IPO this morning on the New York Stock Exchange, and after reaching a high of $35.85 around 10:45AM EST, the stock price slowly retreated back to earth and settled on $34.19 for a closing price. Sure, you might see a downward trending line on the above graph, but GM can celebrate the fact that its stock price still ended the day more than a dollar above the $33 at which the IPO was priced to kick things off, a respectable rise of 3.6%.
Now that the day ended, President Obama has planned a quick preference to talk about General Motors that's starting as we speak. You can watch it live on the Whitehouse.gov website.
[Source: Daily Finance]