Around the Net
But Berkshire Bullish On GM
- The Detroit Bureau, Thursday, May 17, 2012 10:12 AM
Warren Buffett has grabbed 10 million shares of General Motors stock, according to a filing with the Securities and Exchange Commission. Buffett’s investment firm Berkshire Hathaway will spend $256.6 million for the stock, a nearly 20% premium over their value of $214.2 million when trading on the New York Stock Exchange wrapped up on Tuesday.
What does he know that you don't? The maker has staged a modest recovery from its $19-a-share 52-week-low, and GM stock surged by $1 as soon as the market opened Wednesday morning before settling back slightly.
