Shares of General Motors Corp. tumbled to their lowest level since 1933 Tuesday morning as investors feared significant dilution of their stock values or bankruptcy as the company approached a June 1 restructuring deadline. In early trading, GM shares dropped to $1.09, the lowest level since April 28, 1933, according to the Center for Research in Security Prices at the University of Chicago. By midmorning they had rebounded to $1.15, still down 29 cents, or 20.1 percent.
GM has received $15.4 billion in federal loans and is a little more than two weeks away from a government-imposed deadline to finish a restructuring plan or be sent into Chapter 11 bankruptcy protection.
2009 BimmerFest Photo Gallery
2010 Mercedes-Benz E-Class Photo Gallery
If you want to see your photos running on our homepage photo ticker, be sure to upload your photos on the go by sending them to Mobile@AutoSpies.com
There are photos and then there are AutoSpies.com photos!
Share on Facebook
Read Article