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 sinc
General Motors Stock
It's been a full year since the General Motors Initial Public Offering, and the company's stock isn't performing as well as anyone in Detroit or Washington, D.C. would like. As The Detroit News notes, the stock has dipped by 30 percent from its initial price, thanks in part to troubles in Europe and internal dissatisfaction with the company's profit margins. As of last Wednesday, the company's stock fell by 10.9 percent to $22.31 when GM announced that its fourth-quarter earnings wouldn't make a
The Federal Reserve is eying a move to dump a large portion of its remaining General Motors stock this summer, a move that could see taxpayers lose nearly $11 billion on the deal. According to The Wall Street Journal, GM stock hasn't done nearly as well as banks and Fed officials predicted it would, falling to $29.97 a share on Monday, down from its $33-per-share IPO in November.
General Motors has just announced a series of actions intended to improve its financial position and make it more attractive to investors ahead of its Initial Public Offering. Perhaps the most intriguing is word that it plans to purchase $2.1 billion of Preferred Stock from the United Stated Department of the Treasury at a sum that is $700 million more than the recorded value of those stocks.
General Motors chairman Ed Whitacre is readying the world for GM's Initial Public Offering. The IPO is slated to happen next month and Whitacre has reportedly said that he expects shares to be priced between $20 and $25. That price will likely be achieved via a stock split, with sources saying GM plans to offer shares in a four-to-one split.
General Motors is getting ready for its Initial Public Offering, which is expected to occur later this year. Ahead of that, GM has announced that it will offer nearly 600,000 employees (current and retired) and dealers the opportunity to purchase stock at the opening IPO price.
It looks like General Motors could file its first paperwork for an initial public stock offering as soon as next week. The IPO registration is the first step in the process of getting approval from the Securities and Exchange Commission to become a publicly traded company again. A stock sale could come as soon as November and probably no later than early 2011.
As General Motors teeters on the brink of bankruptcy, several major executives have just taken advantage of an opportunity to sell their stock shares just after the company's quarterly earnings report came out in May. Among them, Bob Lutz, Troy Clarke, Thomas Stephens and several others decided that it was better to cash out and get something, no matter how paltry.
Two years ago when General Motors embarked on its latest turnaround plan, the company instated a two-year stock trade ban on its top 20 executives. The group included well-known names such as Chief Executive Rick Wagoner, and Vice Chairman of Global Product Development Bob Lutz. Until today, none of them were allowed to buy or sell General Motors stock. At the time of this posting, none of the them had filed plans with the SEC to purchase or sell their holdings, but they have until May 31 to do