Why Shares of General Motors Are Surging Today
Shares of General Motors (NYSE: GM) were rising on Tuesday, after the company announced measures to bolster its balance sheet -- but didn't cut its dividend.
As of 10:30 a.m. EDT, GM's shares were up about 13.3% from Monday's closing price.
GM said in a statement on Tuesday morning that it will draw down about $16 billion from its existing lines of credit to bolster its balance sheet as it braces for an extended shutdown of its factories in North America.
Source Fool.com
