Gm Stock Closes At 75 Cents A Share.

[killterrorists]

 

In what is almost certainly its final day on the New York Stock Exchange, General Motors (GM: 0.795, -0.335, -29.65%) plummeted below $1 per share on Friday, ending at its lowest value in 76 years.

 

The American industrial icon, which is set to become the largest industrial failure in U.S. history on Monday, saw its shares tumble 33% to 75 cents. That's the lowest closing price since April 5, 1933, when it closed at 74 cents, according to the Center for Research in Security Prices at the University of Chicago's Booth School of Business

 

 

 

http://www.foxbusiness.com/story/markets/i...--lowest-close/

[Guymoe]

The only thing keeping GM stock that high are the gamblers hoping GM does not go under Monday morning. I am not one of them as I am out at this time. I will be placing a buy order for 50k shares shortly after it falls to .05 while at the same time putting a .15 sell order for 50k shares. Nothing wrong with taking a dead cat bounce triple.

 

 

fWONk...really????

 

 

[Zembonez]

What else COULD GM stock do? Given the current situation, it should be in the toilet. Investors need to see a reason to invest. Demand drives stock values. You do the math.

[TexasAl]

What happens to GM stock if they go into bankruptcy? What about after bankruptcy? Does that mean that the shares are no longer worth anything?

[gave20]

Once it hits 25 cents a share I'm buying.

[Tsmith]

What happens to GM stock if they go into bankruptcy? What about after bankruptcy? Does that mean that the shares are no longer worth anything?

 

The value will be worthless, as in 0. In some cases a value could be reinstated once the bankruptcy is settled but not very likely at all. They'll sell new shares once the new GM emerges.

[unit731]

The current stock goes to zero and becomes totally worthless.

 

Then new shares are sold. No, you can't exchange the old stock shares for the new stock shares.

 

I have 10,000 shares of New Haven Railroad. Any buyers? See, most of the railroads went bankrupt (commuter rail). AMTRAK - yes, the government came in and voila. A new railroad.

 

On the day trading. Please provide a detailed explanation. Before someone actually believes that quick easy money can be made.