How much is the current stock going to be worth when the Bankruptcy if complete.
The current stock of GM this date 6/1/09 is going to be worthless when GM exits Bankruptcy?
Answers
348 points
Sensei answered 6 months ago …
Yes. "Current common shares" will be worth zippety do dah. The restructuring will eliminate the current common shares and the new "Government Motors Corporation" will exit with BILLIONS of dollars of common share "equity" in the hands of the US and Canadian governments, the UAW (Puh!), and the current bond holders. Whether or not those "new" shares will ever be worth anything is anyone's guess, but I wouldn't put them in my retirement account - if you know what I mean.
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426 points
MONEYTREE answered 6 months ago …
yes i believe it is going to be worthless if you plan on buying and holding thats a bad idea, its possible for quick trades only, do not buy any, if you already have some it would be a good thing to let it go , my opinion
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