The Treasury Department announced that in March it has sold $621 million worth of GM’s stock.
“To date, Treasury has recovered approximately $30.4 billion of its investment in GM through repayments, sales of stock, dividends, interest, and other income,” reported the Treasury.
Since 2008 the US Treasury Department has issued $49.5 billion in rescue aid to GM and still has to get back $19.1 billion. Last month GM’s stock was sold in a range of $26.75 to $29.30, which means the Treasury has sold about 22.2 million shares. This means that it still has 255 million shares to be sold for around $75 each to break even. That price would be more than double the actual trading price.