The federal government announced on Monday that it has sold its remaining stake in the company, taking a $10 billion loss on the deal, although one think tank estimates the bailout saved 1.2 million jobs and preserved $34.9 billion in tax revenue in 2009 and 2010.
GM's shares closed trading Tuesday at $40.40. It has a market cap of $56 billion, and with $115 billion in revenue for the first three quarters, it may top last year's $152.2 billion.
GM generated $3.9 billion in cash flow from operations in the third quarter and had $20.4 billion in cash as of Sept. 30. The turnaround is not complete, as The Deal reports, but the company is well on its way.This year, GM stock traded in tandem with that of Ford (F) until the middle of November, when it bounced off resistance and rose 10% for the month while Ford fell 2%. GM shares are up 42% for the year and its sales for November were up 19% from a year earlier.
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