Cramer Quick Take: I Like GM
NEW YORK (TheStreet) -- With the federal government liquidating the majority of its stake in General Motors (GM) , what does that mean for the stock?Jim Cramer told Debra Borchardt at TheStreet.com that he expects the stock could rise with the "government motors" stigma finally lifted.
Cramer said that while many expected the government's TARP program to lose hundreds of billions of dollars, that simply didn't happen. While the government may be taking a loss on its stake in GM, other bailouts, including American International Group (AIG) , made billions for the Treasury and have made the program overall a tremendous success.
Cramer said he wouldn't sell GM now because auto sales continue to be strong. He noted that GM is behind in its restructuring efforts in Europe, but overall auto demand should help the stock hold these levels.
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-- Written by Scott Rutt in Washington.
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