GM Shares Jump 8% in Wall Street Return

Shares trading for $35.80
By Kate Seamons,  Newser Staff
Posted Nov 18, 2010 9:02 AM CST
The Dow Jones ticker in New York's Times Square displays news about General Motors stock, Wednesday, Nov. 17, 2010 in New York.   (AP Photo/Mary Altaffer)

(Newser) – And, they're off! General Motors stock jumped from the initial IPO price of $33 per share to $35.80 after GM Chief Executive Dan Akerson rang the opening bell this morning, returning the icon of American manufacturing to life as a publicly traded company. The Dow Jones industrial average rose nearly 120 points in early morning trading, reports the AP.

The Wall Street Journal notes that investors and analysts will be following today's IPO carefully: If shares "pop" more than the typical 10% to 20%, GM and the US may have charged too little. Click here for more on how much GM is expected to pay back, and what the IPO will do to the government's stake.

My Take on This Story
Show results without voting  |