FlowTrader.net

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Posted on Thursday 13 September 2007

Stock Market Alert - GM was a big winner on Thursday, trading up over 10% in heavy trading (55.2 million shares traded versus normal daily average of 15.3 million shares traded) after the WSJ reported that union officials might go along with a plan to form a health care trust fund that the union would control. This might allow GM to save billions of dollars, which obviously had investors excited on Thursday. The UAW also announced on Thursday that GM would be the lead in auto labor talks, which could potentially lead to a strike at GM if talks don’t go well. At the close of trading on Thursday, GM had a market cap of $18.84 billion dollars.