Treasury aims to sell GM shares early
That's out of the $49.5 billion bailout that GM received from the government.
GM shares are currently trading at their lowest levels since the company went public, thanks largely to an overall market dip. The drop came even with GM reporting its first profit since 2004.
The Detroit News reports that so far, the federal government has reclaimed $23.1 billion of its investment in GM, and that in order to recuperate the $26.4 billion, GM stock would need to trade at $53 per share. The company is trading at $33.02 at the time of this writing.
[Source: The Detroit News]
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