Yesterday, the CEO of General Motors, Dan Akerson purchased $250,500 in shares of the automaker, buying 10,000 shares at $25.05.
As of yesterday, Akerson owns 103,600 shares in the company. This last week has seen the worst stock market decline since 2008, with the crash has wiping out more than $6.7 billion from the value of the stock held by the U.S Treasury Department.
GM shares fell $1.62, or 6.34 percent, closing at $23.92 in the NYSE yesterday.The US Treasury holds 500 million shares of GM. At its peak, the stocks were worth $19.5 billion on January 7, closing at $38.98 per share. Today, the Treasury’s holdings are worth $11.96 billion.
[Source: Automotive News]