I keep seeing in the news that there are big things happening to GM. I am not sure I understand. I read that China might buy shares, then I read that there is an overwhelming demand for the stock. Can anyone explain what is going on with GM right now?
I'm not sure, but I think that the car industry is coming back, and GM seems to be on top in America right now. I think if you can afford to buy stock, this would be a good time.
They are doing a public offering of stocks. By selling stock, they can raise operating funds. Right now stock is selling for $33 a share. Based on the amount of stock they are selling, they think they can raise over $20 billion.
Wow, now that's affordable! I think it would be worth looking into. I have not been very keen on American cars, but I think that there have been a lot of improvements to newer models.
GM really has been making a phenomenal comeback in my opinion. The sooner they get their financial house in order, the sooner they can repay the government for the bail out money they got, which would be good for all concerned.
