GM Raises Stock Price Before IPO

General Motors Co. said this morning it's increasing the price range for its planned initial public stock sale to $32 to $33 a share and will sell up to $4 billion in preferred stock, an increase from the $3 billion it had set earlier this month.

The amount of common stock shares -- 365 million -- remains unchanged, the company said. GM set the range at $26 to $29 a share for its common stock when it filed paperwork with federal regulators Nov. 3.



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Steve - 11/16/2010 10:57:53 AM

-1 Boost

Typical IPO pattern:
(1) Pre-IPO optimism
(2) IPO day buying frenzy, driving price up
(3) Post-IPO price crash, well below the IPO opening price

Steve - 11/16/2010 1:52:42 PM

+1 Boost

BTW, I don't imply that this pattern is specific to GM. It's pretty common with IPOs in general.

Neverfollow - 11/16/2010 4:10:50 PM

+1 Boost

Yeah, better off to buy it next month for half price or less.