General Market Question
What type of bankruptcy would enable significant profit, for those holding common stock of General Motors ?
Asked by omnistradr in
General Market
8 months ago
Stocks referenced: GM
Best Answer
312 points
Market101 answered 8 months ago …
I'm not quite sure I understand the question?
A bankruptcy would be awful for GM shareholders. The debt holders "might" take over the company like they did with K-mart and force GM stock holders to sell their stock for pennies on the dollar. Remember, in a bankruptcy proceeding the debt holders get paid first.
