GM Stocks Hit New High as Government Prepares Exit
Since returning to the stock market three years ago
Shares of General Motors Co. hit their highest level Monday since returning to the public stock markets three years ago as investors anticipated the U.S. government selling its remaining stake in the company.
THE SPARK: Late last month the government said it expected to unload the last of its General Motors stock by the end of the year. At the time, the government owned 31.1 million shares, or less than 2 percent of the company.
Mark Reuss, GM's North American president, told reporters Monday in Warren, Mich., that he expects GM's sales to rise once the government exits, especially among pickup truck buyers.