GM's stock closed the day at $29.97 per share, although it hit a daily low of $29.90. GM's stock opened the day at $30.24.
GM's stock price is likely being held down by the pending liquidation of Old GM. Stakeholders in the Old GM are set to receive about 105 million shares of the new GM, representing about 75 percent of the planned 150 million shares in the new GM. Despite the obvious stock price pressure, GM says it's not worried.
"We're going to stay focused on running a great company," GM spokesman Jim Cain said.
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1.'GM stock closes below...' view
