Is the New General Motors a Spin Story? - Yahoo! NewsThe good earnings news about the new General Motors may be obscured by a continuing sell-off on Wall Street as the major indexes continue their plunge in the ninth of 10 days . According to Reuters, GM's better than estimated second quarter earnings didn't boost the stock price as an overall market swoon dragged stocks down.
The news of GM's profit is particularly important to the White House, which bailed out the once-doomed U.S. automaker thanks to the largely involuntary largesse of taxpayers.
GM's share price for common stock at the time of its November IPO was $33; today's inter-day price is $26.33.