Categories: U.S. Investing

GM’s Stock Breaks through $40 Barrier

Frédéric BISSON, CC BY 2.0

GM’s Stock Breaks Through $40 Barrier (Detroit Free Press)

Just one day after announcing plans to stop marketing Chevrolet as a full-fledged automobile brand in Europe, General Motors Corp.’s (GM) share price has climbed above $40 a share. With the U.S. government planning to sell its remaining shares in the largest U.S. auto maker, American taxpayers could be upon the beneficiaries is the advance continues. The stock of the post-bankrupt company hit an an all-time high of $40.26 at one point this morning. It opened at $39.99. The company announced early Thursday that it would take a charge of between $700 million and $1 billion to remove the Chevrolet brand from most of Europe. But the decision could clear the way for the company’s main European brand, Opel, to be successful.

Paul Dykewicz

Paul Dykewicz is the editor of StockInvestor.com and the editorial director of Eagle Financial Publications in Washington, D.C. He writes and edits for the website, as well as edits investment newsletters, time-sensitive trading alerts and other reports published by Eagle. He also is an accomplished, award-winning journalist who has written for Dow Jones, USA Today and other publications, as well as served as business editor of a daily newspaper in Baltimore. In addition, Paul is the author of the inspirational book, "Holy Smokes! Golden Guidance from Notre Dame's Championship Chaplain." He received his MBA in finance from Johns Hopkins University, where he was a two-time president of the school's Finance Club. In addition, Paul has a bachelor's degree from the University of Michigan and a master's degree in journalism from Michigan State University. Outside of work, Paul volunteers with a faith-based organization to assist the poor in Southeast Washington, D.C., to learn personal finance skills to lift themselves out of debt.