U.S. hesitant to sell its GM stock due to low price
When GM initially hit the stock market with its IPO, the per-share price was $33. Now, it's down around $28.78, which doesn't sound like much of a drop, but across 500 million shares, that figure represents a massive hit to the wallet.
For the time being, BusinessWeek reports that the U.S. government is going to sit on the stock in the hopes that it climbs back to IPO levels.
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