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The Ratings Game: GM stock zooms to best gain ever after driverless-car investment

General Motors Co. shares on Thursday rose the most in the company’s post-bankruptcy years as Wall Street cheered news of a multibillion-dollar investment in the auto maker’s driverless-car unit.

The shares on Thursday ended at $42.79, up nearly 13%, the largest percentage gain for shares of the “new” GM GM, +1.34% which emerged from the ashes of bankruptcy and a bailout almost eight years ago. The close tied for the highest ever with Jan. 30’s close. GM stock was the best performer in the S&P 500, and the index’s fourth most active.

SoftBank Group Corp.’s 9984, +1.29% tech-oriented Vision Fund will invest $2.25 billion in Cruise, GM’s autonomous-vehicle unit, taking a stake of around 19% in a newly formed entity and valuing Cruise at around $11.5 billion.

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