GM’s Stock Breaks through $40 Barrier

Paul Dykewicz

Chevrolet Corvette C3

GM’s Stock Breaks Through $40 Barrier (Detroit Free Press)

Just one day after announcing plans to stop marketing Chevrolet as a full-fledged automobile brand in Europe, General Motors Corp.’s (GM) share price has climbed above $40 a share. With the U.S. government planning to sell its remaining shares in the largest U.S. auto maker, American taxpayers could be upon the beneficiaries is the advance continues. The stock of the post-bankrupt company hit an an all-time high of $40.26 at one point this morning. It opened at $39.99. The company announced early Thursday that it would take a charge of between $700 million and $1 billion to remove the Chevrolet brand from most of Europe. But the decision could clear the way for the company’s main European brand, Opel, to be successful.

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