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- Who bought the GM shares?
May 29, 2009, 11:48 pm
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Re: Who bought the GM shares?
It all depends on what type of reorganization takes place AND what type
of bankruptcy is filed.
If GM files Chapter 7 (not likely) the shares will be worth $0.00
If they file Chapter 11 (VERY Likely) it will depend on the
The stock could be worthless.
They could offer to trade the old stock for new stock at reduced levels.
They could even do a direct swap for new shares.
The old shares could be devalued but still traded as assets of the company.
With the Feds stepping in it will be interesting.
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