U.S. Treasury Sells Between 23 and 26 Million in General Motors Shares

Photo Source: http://www.telegraph.co.uk/finance/newsbysector/transport/general-motors/8143450/GM-shares-jump-as-car-maker-returns-to-the-stock-market-in-20bn-float.html
Photo Source: http://www.telegraph.co.uk/finance/newsbysector/transport/general-motors/8143450/GM-shares-jump-as-car-maker-returns-to-the-stock-market-in-20bn-float.html

The United States Treasury continues to work on selling off General Motors stock. In July, nearly $900 million of shares was unloaded. A report to Congress stated that $876.9 million in GM stock was sold by the U.S. Treasury in July. The government sold off between 23 and 26 million shares, which means that General Motors stock was traded between $34 and $37 last month. According to The Detroit News, the United States government still owns, of GM stock, about 135 to 137 million shares. If the selling rate stays the same and you do the right calculations, the government should be leaving General Motors ownership by the beginning or early 2014. Out of $49.5 billion, the U.S. has recovered about $34.6 billion. If GM wants to recoup their entire investment, the stock would have to be increased to about $95.51 of taxpayer’s money. As of today, General Motor’s stock is around the $36 range.

Article Source: http://www.leftlanenews.com/treasury-sold-at-least-23m-gm-shares-in-july.html

Photo Source: http://www.foxbusiness.com/industries/2013/06/06/gm-unveils-share-offering-expands-free-maintenance-program/
Photo Source: http://www.foxbusiness.com/industries/2013/06/06/gm-unveils-share-offering-expands-free-maintenance-program/
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6 thoughts on “U.S. Treasury Sells Between 23 and 26 Million in General Motors Shares

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