Washington -- One year after its much-heralded IPO, which raised a record $23.1 billion, General Motors Co.'s stock has swooned 30 percent from its initial offering price.
And taxpayers are still holding a big chunk of stock on which they'll lose money if the government were to sell off its stake now.
Wall Street analysts remain optimistic the stock will rebound, eventually, listing it at a "moderate buy" based on the automaker's consistent quarterly profits, its focus on emerging global markets and its ambitious U.S. investment plans.
But a slowdown in the world market and troubles in Europe have prompted analysts to dial down earlier expectations.
Start your workday the right way with the news that matters most. Learn more