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GM Stock Hits $1

Posted in auto industry, Detroit, GM, Newsworthy by Alex Kierstein | May 13th, 2009 | Leave a Reply |


How do you know investors have lost confidence in your company? When a share costs less than a Filet-o-Fish, that’s when. GM’s stock has fallen to levels not seen since 1933, which for you history buffs wasn’t a great year for the financial world.

<i>The NYSE, looking to delist GM soon.</p>

The NYSE, looking to delist GM soon.

In danger of being delisted from the New York Stock exchange if stock prices don’t recover within 30 days, and coming right after GM’s execs started jumping ship. GM is in a world of hurt. The highest price hit on Tuesday was $1.19. A year ago, their stock price was around $20 (which still wasn’t so hot). It seems like folks are not optimistic about what might emerge from a GM bankruptcy.

[Source: Freep.com]

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