DETROIT (WKZO) -- For the first time in two years General Motors stock closed above the 33-dollar mark, the price set at its November 2010 Initial Public Offering.
The stock closed on Friday at 33-dollars and 42 cents per share. The last time it traded above 33-dollars was May 4, 2011. Last July the stock hit its low of 19-dollars per share.
The increase indicates a rise in confidence in the automaker's future. In the first quarter of the year, GM reported a profit of 1.2-billion dollars.