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General Motors stock rises

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The General Motors logo is seen outside its headquarters at the Renaissance Center in Detroit, Michigan August 25, 2009. REUTERS/Jeff Kowals
The General Motors logo is seen outside its headquarters at the Renaissance Center in Detroit, Michigan August 25, 2009. REUTERS/Jeff Kowals

DETROIT (WKZO) -- For the first time in two years General Motors stock closed above the 33-dollar mark, the price set at its November 2010 Initial Public Offering.

The stock closed on Friday at 33-dollars and 42 cents per share.  The last time it traded above 33-dollars was May 4, 2011.  Last July the stock hit its low of 19-dollars per share.

The increase indicates a rise in confidence in the automaker's future.  In the first quarter of the year, GM reported a profit of 1.2-billion dollars.

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