General Motors (GM) Insiders Pickup Small Pieces

Another General Motors (NYSE: GM) Director recently bought stock in the auto giant, according to a new SEC filing. The purchases comes with a number negatives weighing on investors confidence after the company's historic IPO in November 2010.

Some recent negatives:

• $33 IPO syndicate price broken
  
• Rising crude and gasoline prices raises concern about auto sales and sales mix
  
• CFO unexpectedly steps down
  
• Share overhang with creditors of the old GM set to receive million of shares

Here is a rundown of recent insider purchases:

• Director Robert Krebs bought 5,000 shares on 3/10 at $31.67
  
• Director Phillip Laskawy bought 3,000 shares on 3/7 at $32.45
  
• Director Neville Isdell bought 7,5000 shares on 3/4 at $33.07.

The purchases are a small vote of confidence in a increasing desperate looking situation. However, the timing of the purchases could prove profitable over the long-term as a number of the above mentioned issues should resolve. GM shares could settle in around $30 area, build a base, and then ramp higher.

---

Serious News for Serious Traders! Try StreetInsider.com Premium Free!

---

You May Also Be Interested In

• Greenland Mines updates Skaergaard resource estimate by 31%
• Attovia Therapeutics names John Smither to board of directors
• aTyr Pharma to present efzofitimod subgroup data at WASOG 2026