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Mary Barra, Chair and CEO of the General Motors Company (GM), speaks during the Milken Institute Global Conference in Beverly Hills, California, on May 2, 2022.
Patrick T. Fallon | AFP | Getty Images
DETROIT – Shares of General Motors on Monday closed below the post-bankrupt automaker’s $33 initial public offering price for the first time since October 2020.
Amid a broad market sell-off that also pushed Ford Motor and Chrysler-parent Stellantis to new 52-week lows, GM’s stock closed at $32.28 a share, down by 7.8%. Shares of GM have declined about 45% this year, as fears of a recession grow and investors question whether the automaker’s most profitable days are behind it.
GM and other…
Source cnbc.com
