according to Reuters:
NEW YORK (Reuters) - Strong investor demand is expected to drive the pricing of General Motors Co's (GM.UL) initial public offering to $30 per share or higher, above the initially proposed range, two people familiar with the matter said on Monday.
GM earlier filed to sell shares for $26 to $29 each.
A higher per-share price reflects growing investor confidence about the top U.S. automaker, which emerged from a U.S. government-financed bankruptcy last year with sharply lower costs and higher profit potential.
The new GM is set to trade on Thursday on the New York Stock Exchange and the Toronto Stock Exchange.
Hyping is on, of course, as one pundit who frequently appears in CNBC and TheStreet.com says "Buy GM".
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2 comments:
To bad that small investors like myself who paid toward their bailout can't get into the intial IPO offering, instead I have to wait several hours.
Will the estimated stock purchase by the China automaker allow an easier entry into the US auto marketplace?
How soon can the feds (Government Motors) claim their share to pay back bailout monies?
It will be interesting to see if GM stock can stay at offering price for long when their number one US competitor Ford is trading around $16 a share.
Don't buy IPO, unless you want to short the pop. For investment, F or HMC look much better, both fundamentally and technical analysis-wise, and they are government-free. IMHO.
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