Wednesday, February 22, 2012
GM Stock Prices Soar, Once Again Worlds Largest Auto Maker
GM reported an 11% (18% if adjusted for EBIT) increase in revenue in 2011 to $150.3 billion, which is an impressive increase over the $135.6 billion in 2010. Stock prices went from just shy of $26 to nearly $28 in the course of a day and a half, it has been nearly a week now and stocks have dropped a bit, but still well above where they were prior to GM's financial announcement. This has allowed GM to reclaim the title of worlds largest auto manufacturer, something it hasn't been able to do since 2007 when the Japanese giant Toyota took the number one spot.