Warren Buffet buys 10 million shares in General Motors

GM Renaissance Center

Warren Buffet’s firm Berkshire Hathaway announced today that it has purchased 10 million shares of General Motors stock. The company disclose the investment today in a filing with the Securities Exchange Commission.

The investment by Buffet’s company is just a small part of GM’s 1.57 billion outstanding shares – however, having Warren’s name behind the company should give some boost to the Detroit automaker’s image.

The shares would be worth $224,000,000 at today’s closing price of $22.40. up 98 cents.

Buffett has no plans to purchase stock in Facebook.

– By: Omar Rana

Source: USAToday


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