GM CEO Loads Up on Company Stock

CEO Dan Akerson bought 25,000 shares in General Motors Co. on Wednesday for $509 million, thus bringing his total investment in the company's stock to 272,800 shares worth more than $5.6 million.

Akerson disclosed the transaction in a filing with the U.S. Securities and Exchange Commission. He made an outright purchase, not a conversion of existing options. Investors generally regard insider stock purchases as a vote of confidence in the company.

Analysts opine that Akerson, who paid an average of $20.35 for the stock, is taking advantage of the company's low share price. GM stock closed Thursday at $20.65, 37% below its initial offering price last November.