GM IPO goes forth as planned
Last Thursday, General Motors once again became a public company since it was taken over by the U.S. Government. Opening at $33, getting a brief buoy to the high of the day at $35.85 and then settling back down to where it closed at $34.19 wasn’t a bad day overall.
Even after pleading by some naysayers to call of the IPO, such as Ralph Nader, the Government didn’t interfere and let things go as planned. Obviously the government wants to off-load the once flailing company and let it go out on its own again, hopefully the timing was right for that to happen successfully.
Even after all of the hullabaloo surrounding this IPO, analysts are still saying that Ford is the safer investment. Rightfully so, Ford has proven itself and turned their business around and made corrections where they needed to be made. They’ve also been the only public U.S. automobile stock that has been available for investment in a while. So while analysts think that Ford is out of the woods, they don’t have that same ease with General Motors who still needs to fix its European operations.
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Category: Ford Motor Company, General Motors, News
