UPDATE 2-Kerkorian cuts GM stake, shares plunge


(Adds details, background, bond price) By Kevin Krolicki DETROIT, Nov 22 (Reuters) - Billionaire Kirk Kerkorian's Tracinda Corp. investment firm on Wednesday said it had sold $462 million of stock in General Motors Corp this week, cutting its stake in the automaker to 7.4 percent from 9.9 percent. The news sent GM stock plummeting. Shares lost more than 5 percent in mid-afternoon trade on the New York Stock Exchange - the largest one-day fall in percentage terms since Oct. 6, when the ...

Premium Content (PAID Subscription Required)

"UPDATE 2-Kerkorian cuts GM stake, shares plunge" is part of the paid WardsAuto Premium content. You must log in with Premium credentials in order to access this article. Premium paid subscribers also gain access to:

  All of WardsAuto's reliable, in-depth industry reporting and analysis
  Hundreds of downloadable data tables including:
  •   Global sales and production data by country
  •   U.S. model-line inventory data
  •   Engine and equipment installation rates
  •   WardsAuto's North America Plant by Platform forecast
  •   Product Cycle chart
  •   Interrelationships among major OEMs
  •   Medium- and heavy-duty truck volumes
   •  Historical data and much more!

For WardsAuto.com pricing and subscription information please contact
Lisa Williamson by email: lwilliamson@wardsauto.com or phone: (248) 799-2642

Current subscribers, please login or CLICK for support information.

Already registered? here.


Follow Us

Sponsored Introduction Continue on to (or wait seconds) ×