Treasury sells more GM stock, stake now at 7.3%

The US Treasury's sale of General Motors stock continues, with the unloading of more than 110 million shares between May 9 and September 13 netting the government agency $3.82 billion and reducing its stake in GM to 7.3 percent, Reuters reports. The Treasury also confirmed that it now holds 101-million shares, which are on track to be sold by March 2014. Those remaining shares are currently worth $3.7 billion, with GM stock closing at $36.71 per share as of yesterday. That means Treasury is on track to lose $10 billion from the bailout, which is far less than earlier estimates of more than $20 billion.

Autoblog , Treasury sells more GM stock, stake now at 7.3%, Treasury sells more GM stock, stake now at 7.3%