Tuesday, November 16, 2010
General Motors Goes Public, Raising Share Price to $32 - Yahoo! NewsThe Government Motors/GM IPO offers the opportunity for the well-heeled to make quick money on the "pop" associated with new offerings. Of course, too much "pop" would make the White House nervous, giving the appearance of another Wall Street handout to institutional investors, hedge funds, mutual funds, and sovereign funds. For this reason, it was announced today that the price of one GM share was revised upward from $26-$29 to $32 to $33. But why are small "retail" investors frozen out of the process?