Should You Consider General Motors Stock If Big Banks Are?
T = Trends for a Stock’s Movement
General Motors designs, manufactures, and markets cars, crossovers, trucks, and automobile parts worldwide. The company markets its vehicles primarily under the Buick, Cadillac, Chevrolet, GMC, Opel, Holden, and Vauxhall brand names, as well as under the Alpheon, Jiefang, Baojun, and Wuling brand names. It further sells cars and trucks to dealers for consumer retail sales as well as to fleet customers, including daily rental car companies, commercial fleet customers, leasing companies, and governments.
General Motors stock is being sold by Ontario and Canadian governments to Bank of America (NYSE:BAC) and RBC Capital Markets (NYSE:RY). The governments are selling 30 million common shares in the Detroit automaker in a deal estimated to be around $1.1 billion. According to Canadian paper The Globe and Mail, the Canadian government is phasing out the support it gave to Detroit carmakers during the financial crisis.