The Treasury Department's banks today can start selling off the government's remaining 300.1 million shares in General Motors Co.
The Treasury — which plans to sell its 19 percent stake in the Detroit automaker by the end of March 2014 — said it had filed a written trading plan for its stake.
Last month, it sold 200 million shares of its GM stock to the Detroit automaker for $5.5 billion, or $27.50 a share.
In order to prevent hedge funds and other investors from taking advantage, the Treasury doesn't make the training plan public. The plan places limits on how much stock can be sold at any given time and at what prices. Government officials also can provide the banks direction on when they should sell additional shares.
Source: AP. Read full article. (link)