The US Government Is Finally Exiting Its Stake In General Motors, And Shares Are Popping

The U.S. Treasury Department said today it plans to exit is remaining 31.1 million-share stake in General Motors by the end of 2013, subject to market conditions.

“If average daily trading volumes continue at recent levels, Treasury anticipates that it will complete the sale of its remaining shares by the end of the year,” said the Treasury in a statement.

The U.S. government bailed out GM to the tune of $US51 billion in the wake of the financial crisis, and has since gotten back $US38.4 billion of its investment.

Shares of the Detroit automaker are headed higher in pre-market trading. Right now, they are up around 2.3%.

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