GM stock rises on 2nd day of trade
Sunday, 21 November 2010
DETROIT, Nov 20 (AP): General Motors' stock rose the second day it traded as it rebounded from an early swoon.
The automaker's stock climbed 7 cents, or 0.2 per cent, to close at $34.26 Friday, one day after it began trading on Wall Street again, signaling the rebirth of an American corporate icon that collapsed into bankruptcy and was rescued with a $50 billion infusion from taxpayers.
As trading began Friday, GM's stock dropped $1.08 to $33.11 as investors sold it to lock in profits. But buying returned and gradually lifted the stock until it passed Thursday's closing price of $34.19 near the end of the day.
GM stock was traded more than 107 million times, less than one-quarter of the volume traded Thursday.
The automaker's stock climbed 7 cents, or 0.2 per cent, to close at $34.26 Friday, one day after it began trading on Wall Street again, signaling the rebirth of an American corporate icon that collapsed into bankruptcy and was rescued with a $50 billion infusion from taxpayers.
As trading began Friday, GM's stock dropped $1.08 to $33.11 as investors sold it to lock in profits. But buying returned and gradually lifted the stock until it passed Thursday's closing price of $34.19 near the end of the day.
GM stock was traded more than 107 million times, less than one-quarter of the volume traded Thursday.