GM (GM) Drops Below IPO Price, Some Still Bullish

Even though General Motors has dropped below its IPO price, gas prices are historically bad for the industry, and GM is offering far more incentives to gain market share, CNBC's Karen Finerman remains bullish on the stock.

She says, ”This time we have much healthier balance sheets and a lower cost structure that goes with that. We also have much more rational auto lending and a product mix that shows auto companies have learned. They don’t have lots full of gas guzzling SUVs.”

”I’m a buyer of GM but with options so I know exactly what I have at risk,” Finerman added.

General Motors closed Friday at $32.39, down $0.64, or 1.94 percent.