Monday, December 23, 2024
Tag:

spooks

Kerkorian Spooks Market With Massive GM Purchase

Kirk Kerkorian's investment company Tracinda wants to pick up 5% of GMs outstanding stock. The massive purchase of 28 million shares at $31 a share would total $868 million and make Tracinda the third largest stockholder when combined with the 3.9% they already own. GM's stock began a quick ascent as stock jumped to over $32 a share in the process.