GM Increasing IPO Size & Range

General Motors is showing that investors strongly want its IPO, and are acting as such, by raising the price of the IPO and size of the offering. GM raised the price to $32-$33 from a previous range of $26-$29 for its common stock, and raised its preferred stock offering to $4 billion from $3 billion. This GM IPO is going to be one of the most anticipated in recent memory, as the beleaguered automaker took taxpayer money while filing for Chapter 11, restructured itself, and is on its way to profitability. The Obama administration has turned this political, and many investors will look to see how it performs throughout the rest of the year and onward, as a potential feather in Obama's cap. Even if you disagree with his politics, for the rest of America, having a successful GM is important. Remember the saying, "What's good for GM is good for the country."