Wall Street’s greatest, business leaders buy up GM stock
GM investors are certainly in good company, as far as financial know-how is concerned. As required by law, major investors have made public the facts of their investments in GM during the IPO and the weeks immediately thereafter. Financial and investment gurus George Soros, David Tepper, Bill Ackman, and John Griffin, have all invested in the company, which closed out Thursday at $36.37; $3.37 over its IPO price.
David Cole of the Center for Automotive Research in Ann Arbor, Michigan also invested, and he says that the others invested for the same reason he did.
“They’ve done the research and think GM will be a very profitable company. The foundation for this company is very strong,” Cole said. “There’s no political intrigue here why they invested: They want to make money.”
– By: Stephen Calogera
Source: Detroit News