November 18th, 2010

The General Motors stock symbol is of interest this day of their IPO.  In what could be the largest IPO ever in history, GM is reverting from the “Governmental Motors” back to “General Motors” – owned by investors and not the US government.

GM was the recipient of a massive government bailout in the form of loans.  Their stock was de-listed from the NYSE amid their massive restructuring efforts.  General Motors trimmed the fat – getting rid of Hummer, Saab, Saturn, and Pontiac lines.

Now, GM has Cadillac, Buick, GMC, and Chevrolet lines.

GM debuted on the NYSE as “GM” once again – this is their previous ticker.  This is unusual, as usually stock symbols change as a result of being re-listed or a new IPO being offered.

The IPO started at a price of $33 per share, and quickly rose $3 to $36.  The stock was up 7.5% in early trading, amid a stock market rally.  The stock market erased many losses incurred earlier in the week. You can read our stock market update, HERE.

The true test with GM will be whether or not they can stand the test of time.  They have taken drastic measures getting rid of so many lines.  However, they will need to compete globally and give American drivers a reason to purchase their cars over those made by foreign automakers.

(NYSE:GM) General Motors Stock Symbol, IPO Update – the stock symbol is NYSE:GM.