General Motors Shares Drop To Lowest Level Since 1933

General Motors Corp. shares hit a low of $1.40 in morning trading Friday, marking their lowest point since May 23, 1933.

That's according to the Center for Research in Security Prices at the University of Chicago.

The price is adjusted for splits and other changes.

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NItePhire - 3/6/2009 5:53:49 PM

+3 Boost

wow

DinamoR - 3/6/2009 9:42:53 PM

+4 Boost

RIP Reaganomics: 1981-2009

Thanks for nothing conservative losers!

Milton - 3/7/2009 10:26:38 AM

+1 Boost

Poor GM!

AMiodynski - 3/7/2009 12:12:31 PM

0 Boost

Poor GM... They did it to themselves !!! Poor bastards that bought them and got stuck in the *ss with their garbage !!

91z4me - 3/7/2009 6:18:42 PM

+2 Boost

Actually for the time being I wouldn't buy ANY automotive stock, especially the Generals. Everyone is going to get hurt when they go down, some will survive but many suppliers will be done for. I expect GM falling to make the recession into a near depression. But those who do survive will be very strong players.

Do yourself a favor and hold off on buying that stock.

veyron1001 - 3/7/2009 6:28:02 PM

+2 Boost

Actually Hyundai stock would be the better move.

neutral - 3/8/2009 2:15:18 PM

+2 Boost

I've been pondering this idea for a while...

I can't honestly believe that the govt would let GM go into CH11, they'd be too stupid to do so especially given the state of our economy. Add that to the fact that the democrats would never win another midwest state ever again in any election.....

So the question is, do I buy GM now or wait for some more bad news. I am afraid that in an attempt to look "tough and fair" with the Big3 the the govt might do some liquidation of common stock value in some "restructuring" bid. If the feds just said "we're gonna get this thing fixed out of court" and didn't say they were going to liquidate the stock, I'd be in.

GM lineup is awesome and it's only getting better. Product-wise, I am confident in GM.

GM's financial situation just depends on the economy as a whole, here I am not so confident.

What I do know is that if this "stimulus" actually does what it is supposed to do, it will generate sales of pickups as well as other GM prodcuts. Given the fact that GM's cost base has been massively cut, any uptick in sales just means less revenue getting eaten in overhead costs, making the company more profitable.

So I don't know, but if the stock nose-dives like FRE or FNM, etc, it wouldn't be a bad idea to toss a few hundred bucks at GM... Given what I've stated above, you could make some money, either way, its just a few hundred dollars.