GM Hits The Stock Exchange

General Motors (NYSE:GM) made its second entry into the New York Stock Exchange with an Initial Public Offering.

General Motors managed to gain over $20 Billion through the IPO. On the end of day one shares were around $34 per share. It created history by becoming the largest initial stock offering in New York Stock Exchange.

The government controlled car manufacturer GM (NYSE:GM) has had more than $50 Billion of tax payers’ money to revive the dying automobile giant. The government stake through this measure is reduced to 33% from 61%. More than 358 million shares were sold and 54 million more are going to be sold to bankers.

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Ed Liston

Ed Liston is a senior contributing editor at TheStockMarketWatch.com. An active market watcher and investor, Ed guides an independent team of experienced analysts and writes for multiple stock trader publications. He is widely quoted in various financial publications on the Internet. When Ed is not writing about stocks, investing in stocks, talking about stocks, or otherwise doing something stock related, he likes to go sailing and fishing.

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