GM stock hits all-time high above $40
Following the government bailout and the restructuring of one of America's largest corporations and employers, GM issued its Initial Public Offering in 2010 at $33 per share. Prices have meandered in the years since, but The Detroit News reports that GM's stock has now broken through the $40-per-share mark for the first time since hitting the market over three years ago. That's an all-time high for "New GM." Interestingly, some analysts, including Morgan Stanley, are predicting that the share price will continue to rise to $45 or even $47 per share.
The rise in price reportedly resulted principally from the US Treasury Department approaching complete divestment from the company, selling off the remainder of the 61 percent stake it acquired when it bailed GM out for nearly $50 billion.
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