The US Government Is Finally Exiting Its Stake In General Motors, And Shares Are Popping
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REUTERS/Jeff Kowalsky
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"If average daily trading volumes continue at recent levels, Treasury anticipates that it will complete the sale of its remaining shares by the end of the year," said the Treasury in a statement.
The U.S. government bailed out GM to the tune of $51 billion in the wake of the financial crisis, and has since gotten back $38.4 billion of its investment.
Shares of the Detroit automaker are headed higher in pre-market trading. Right now, they are up around 2.3%.
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