Looks like GM is very healthy

[whell]

The market still doesn't seem convinced. GM stock is trading at about $19/share. Recall that the IPO price in Nov 2010 was $33.

Its also interesting to note that its likely that the government, which still owns about 500 million shares of GM preferred stock as part of the loan / bankruptcy deal, will likely delay the sale of those shares yet again. The stock had a par value of $26/share. However, for the Feds to break even (sell the stock for the amount of money that the was loaned to GM in exchange for the stock) the shares would need to be sold for about $56. So, if the government does proceed with the sale too soon, the US taxpayer will have essentially purchased GM's bad debt.



EDIT - added the chart above, comparing GM's stock performance (blue) to the S&P 500 (red).