General Motors stock opened today with the familiar ‘GM‘ ticker today.
You can follow the stock in real time HERE, but as of this morning the General Motor’s stock was up to $35.29 or about 6 percent from the opening price.
According to CNN.com:
“The U.S. Treasury Department, which took a 60.8% stake in GM in return for the $50 billion bailout that saw it through bankruptcy, sold 75% of the common shares put up for sale Thursday. That will return at least $11.8 billion to taxpayers.”
According to published reports GM’s initial public offering raised $23.1 billion.
“There is a lot of optimism and a lot of confidence in GM these days,” said Chief Executive Daniel Akerson during a media conference call. “But we know how we arrived here. We know what went wrong and we believe we’ve learned a lot from that.”