GM Shares Rebounding Sharply: Up 60% Since Hitting $1

Shares of General Motors (NYSE: GM) are leading the Dow 30 stocks higher this morning following reports that the automaker has confirmed that, as expected, three bidders -- Fiat, RHJ International and Magna International -- have offered to take over GM's Opel unit.

GM's stock most recently traded at $1.58, up 9.1% from yesterday's closing price. Just 2 hours into today's trading session, shares of GM have already traded hands about 45 million times, just below the average daily volume of 46 million shares.

General Motors shares spiked 14% yesterday as execs made the initial announcement that they expect at least three bidders for Opel.

Notably, since hitting a 76-year low at $1.00 on May 13, shares of GM have rallied 60%.

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