GM CEO Puts His Money Where His Mouth Is
In today's edition, industrials editor and analyst Brendan Byrnes discusses GM CEO Dan Akerson's recent purchase of more than $500,000 worth of GM shares. That's certainly a vote of confidence for the company, though it's important to note that Akerson bought $940,000 worth of shares last May at an average price of $25.05 -- and has taken around a 17% loss so far. But we like seeing this CEO put his money where his mouth is, and Brendan remains confident that GM is trading for cheap and is a solid pick for long-term investors. GM is doing very well at home, and it's the market-share leader in China. Check out the video below for more on Akerson's big buy, and whether investors should follow Akerson's lead and add GM shares to their portfolio.
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The article GM CEO Puts His Money Where His Mouth Is originally appeared on Fool.com.Brendan Byrnes owns shares of General Motors. The Motley Fool has no positions in the stocks mentioned above. Motley Fool newsletter services recommend General Motors. Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.