General Motors has reached an important milestone this morning: the price for one share of the company has climbed to over $33. That's higher than the Initial Public Offering price from 2010. At roughly 12:15PM Eastern today, GM shares were up $0.97 on the day, some 2.99 percent, for a total of $33.36. The Detroit Free Press reports that the last time GM stock closed over $33 was on May 4, 2011. GM stock has been steadily growing in value throughout 2013. The stock price is up by 14 percent since the start of the year.

The jump over $33 per share is undoubtedly great news for both investors and GM employees, who've suffered through some scary moments over the last few years. In 2012, the share price fell below $19. Later that summer, GM CEO Dan Akerson spent some $500,000 on 25,000 shares as a vote of confidence in the embattled automaker (shares that are now worth roughly $825k... nicely played, Dan).

As has been widely reported, the $33 price still is far from the break-even point for the shares purchased by the US Government, however. The Treasury Department is still planning on divesting itself of GM shares by early 2014, and would need to see roughly $75 per share to break even on the investment it made in 2009 as part of the company's bankruptcy restructuring.


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  • 16 Comments
      Carphanatik
      • 1 Year Ago
      And cue the political debate...
        • 1 Year Ago
        @Carphanatik
        [blocked]
      360_AD
      • 1 Year Ago
      Perfect timing for the US Treasury to dump all shares.
        wrestleprocbt
        • 1 Year Ago
        @360_AD
        American taxpayers have already taken it up the a** on this. Fortunately though the unions got their money and enough to buy their votes for the last election. Now that that has been accomplished I doubt the administration could care less about this company. It's on to other functions for it's buddies.
          drewski
          • 1 Year Ago
          @wrestleprocbt
          Please GM and your employees, pay back the US taxpayer for the loan that was given to you. If you don't, then you will always be US Motors. Maybe at least pay your (non-union) neighbors mortgage.
      protovici
      • 1 Year Ago
      Come on $72 a share!!!
      BF4ALTF
      • 1 Year Ago
      While in this case getting back to their IPO price is encouraging, it still sucks. How can a company this big be worth so little. Even Ford is worth $13B more (or about 30% more) in market cap. Toyota is worth 4 or 5 times more than GM. This is a huge company, but at market cap aapl could buy it with 3 times over with cash on hand. There are many companies with far less revenue, even in the same sector, that are worth much more. I don't know if the problem is product or management, but clearly the market doesn't see a lot of potential here.
        axiomatik
        • 1 Year Ago
        @BF4ALTF
        The revenue is huge, but the profit is small relative to the revenue (as is the case with all automakers). Plus, potential profit growth is limited. If GM has a fantastic year in 2014, maybe it will double profits. For other companies in other sectors, a fantastic year might mean 10x profits.
      Spies1
      • 1 Year Ago
      LOL, how typical. yonomo200 aka yomama6xxx Has been using her dozens of accounts to vote again.
      mchica
      • 1 Year Ago
      I bought Toyota stock almost a year ago at 70 bucks and it's now trading at 128.00 and climbing.
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