GM's stock closes below IPO price for first time since October 2020 (US.GM) - 14 iunie 2022
Shares of General Motors on Monday closed below the post-bankrupt automaker’s $33 initial public offering price for the first time since October 2020. Amid a broad market sell-off that also pushed Ford Motor and Chrysler-parent Stellantis to new 52-week lows, GM’s stock closed at $32.28 a share, down by 7.8%. Shares of GM have declined about 45% this year, as fears of a recession grow and investors question whether the automaker’s most profitable days are behind it.
GM’s stock closing below the $33 a share IPO price from November 2010 occurred hours after the company’s annual shareholder meeting.