The General Motors stock symbol hasn’t been around in a while. Today, the General Motors stock symbol made a return to the NYSE, as “GM” is set to make a big splash. At this time two years ago, the bottom was about to fall out of the legendary car company. But now, after being bailed out and restructured, the corporation is trading again. In fact, when the GM stock symbol returns on the New York Stock Exchange, its IPO symbol today will be the biggest ever.
It took two years, but the company is now ready to become public again. Back when it went under in late 2008, the entire auto industry was on life supports. Since the bailouts, and since the government took control of the automobile giants, things have finally started to look up.
Today, the General Motors stock symbol is making a triumphant return to the NYSE, under the old “GM” name. In fact, shares are going out for $33 each, with a total offer of $20.1 billion. With extra shares worth $3 million more, the GM IPO symbol today is the most valuable in U.S. history.
Of course, the real test of the company’s power will come later, after the initial big splash. It may be opening big in the public, but will it stay that way in the future? The automobile industry fell apart before the government got involved, and is just inching towards a return to normal now.
By the time all of the shares are sold, the General Motors stock symbol should still be a welcome sight on the stock exchange. It is certainly a more positive story today than others in the financial world, as Ireland is struggling with major finance troubles.
However, the automobile companies are proving that some institutions can rise from the dead. Still, that happened in large part because of government intervention, which is harder to establish in other areas. Today’s news can be touted by the Obama administration as a success story, especially when they have so few of those now.
Not only is the General Motors stock symbol back, it is already making history. However, if the GM IPO remains somewhat valuable in the years to come, it may be a bigger achievement in the long run. At that point, the real work will begin, to avoid the kind of complacency and mistakes that almost destroyed the company in the first place.
For today, there is a mood of celebration at GM, as CEO Dan Akerson rings the NYSE opening ball to welcome the auto giant back.
Charlotte Observer- “GM’s IPO may be biggest ever”
Wall Street Journal- “US Stocks Jump At The Open, GM Begins Trading”