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DETROIT — General Motors’ stock rose the second day it traded as it rebounded from an early swoon.
The automaker’s stock climbed 7 cents, or 0.2 percent, to close at $34.26 on Friday, one day after it began trading on Wall Street again, signaling the rebirth of an American corporate icon that collapsed into bankruptcy and was rescued with a $50 billion infusion from taxpayers.
As trading began Friday, GM’s stock dropped $1.08 to $33.11 as investors sold it to lock in profits. But buying returned and gradually lifted the stock until it passed Thursday’s closing price of $34.19 near the end of the day.
GM stock was traded more than 107 million times, less than one-quarter of the volume traded on Thursday. Tom Krisher, The Associated Press
