Warren Buffett Buys 10M GM Shares

16 May

Thanks to a report published in Detroil News, we got to know that investment tycoon, rich, humorous, kind and awesome Warren Buffett’s firm Berkshire Hathaway has bought 10 million GM shares.

In a Securities Exchange Commission disclosure, Berkshire noted that it bought these shares of GM along with other inverstments for $256.6M and at current stock price, they are valued at 222.4 M.

In relative aspects, this number is very small as total GM shares in market score 1.57 billion, but it could be a positive signal for investors and helps boost confidence in automobile industry. As result of the announcement, GM shares are today up 3.75 percent.

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Date posted: May 16, 2012