US Treasury has already sold shares at lower prices while Canadian and Ontario governments have held their stake.

Multiple outlets are highlighting a report from a special federal watchdog saying GM shares will have to triple current values to $95.51 a share in order for the US Treasury to break even.

GM, which has recently been readded to the S&P 500 index, has seen its stock price rise more than 25% over the last year to a high of $37.71 ($37.08 as of yesterday’s close). It has now eclipsed its IPO price of $33 per share.

But, even with the stock price up, the US Treasury will still be out a significant amount of cash once they completely divest themselves from the company. Due to an earlier divestment of shares at lower values due in part to public pressure, the Treasury needs a share price of $95.51 a share to break even. Currently they are sitting at a $11.2 billion dollar loss if they were to sell all their remaining shares at today’s prices.

North of the border, the situation is radically different. Canadian and Ontario governments have yet to sell any shares of their stake in GM, causing a much lower break even point.

Some rough math puts the 9% stake of GM owned by the Canadian and Ontario governments at just over $6 billion, or about $4.8 billion shy of the break even point.

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