GM stock prices finally eclipse $33 IPO price
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.
- Most and least efficient car companies
- Fastest-depreciating cars in the United States
- Find and compare 2017 Models