I mentioned before that this IPO could be quite symbolic for the US economy, as the governments have a vested interest to see this stock rally strongly. I believe the $42 mark is the break even point for governments both USA and Canada.
Today there was a drop of $1 from open to close. However, I believe the IPO price was at $33 which means for the day the GM stock did climb by $1. Around 2 pm, the stock pattern turned for the worst and by the end of the day the stock was at the low end for the day. There was an increase in volume on the bear side the last 10 minutes of the day. Tomorrow opening will be interesting.
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