GM Shares Tumble To Lowest Level Since 1933

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.

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lock - 5/12/2009 4:00:37 PM

+1 Boost

We'll never see over $7 billion from Chrysler, what's another $15 billion if GM goes BK?

Agent009 - 5/12/2009 4:31:21 PM

+3 Boost

I guess the real question is should we have EVER dumped money into either one of the companies.

I starting talking about this a year ago and was scoffed, but now the writing is on the wall for GM. If GM went under for good it would be a tremendous loss, but Ford would pick up a portion of the sales and be strengthened because of it.

Right now the slices of the pie are too small to survive on.

TehShibbs - 5/12/2009 8:16:11 PM

+2 Boost

Your answer, 009, is NO. We should NOT have.

pageman - 5/12/2009 8:28:29 PM

+1 Boost

Wouldn't hurt to spend $2k on shares and see where it goes. Hell, at under $2 how bad could it be? You lose $4k or if it goes to $10, "Kaching!!!!$$$$$$$".

Joe_Limon - 5/12/2009 9:11:53 PM

+1 Boost

How do you spend $2k on shares and lose $4k?

Agent00R - 5/12/2009 8:55:57 PM

+1 Boost

All the while Ford shares have seen a recent surge.

Will it hold for Ford? I would assume so considering the dire straits of the others.

veyron1001 - 5/14/2009 1:57:56 PM

+1 Boost

Its seems about right with the level of technology they put in their cars. The 1930s.