GM Stock

Looks like it was down 33% on Friday. An all time low. Now as a penny stock, a reverse split is likely at some point or it will be de-listed. But
that might not be neccessary as Government Motors will sell it's assets to a new Government Motors company leaving the debt behind. The idea is to welch on the debt and seed the new company with taxpayers cash.
Lets do some rough math. Even if common stock holders are included in the New Government Motors, they are looking optimistically at a 300:1 dilution of stock. So divide 75 cents by 300 and you have New Government Motors stock value. Clearly at 75 cents it is over valued. A reverse split of say 1000:1 to get it back up above a buck so it can stay listed is almost assured.
This is begining to look like NorTel. Imagine if you bought GM Jan 4th 1999 for $87. Lets say GM is worth 1 cent. 8700:1 reduction in value.
NorTel on the other hand, $1220 on August 28th 2000 would net you 19 cents today. Thats a 6421:1 reduction in value.
GM is going to wind up as the biggest loser, as common stock holders are likely wiped out. I wonder if Warren Buffett still owns some GM?
So in fact GM could be the biggest worst investment going for some.
I wonder who bought GM @ $87?
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Not to worry those current GM stockholders, who have owned GM stock since the sixties, will loose their money after GM comes out of bankruptcy but they will have earned far more money on their initial investments in fifty years than they will lose, plus they will have capital lose deductions from their federal income taxes for years to come. You should be so lucky LOL

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