If GM actually concludes a bankruptcy, the stock will never be worth anything again.

Anyone who thinks the bankruptcy is inevitable should sell now for whatever they can get. On the other hand, if you think there's a slim chance for GM to recover without a bankruptcy, then it's pretty cheap to risk a thousand bucks now for something that could have a 30:1 payoff (if it went back to $50).

 

Won't go back that high again because all the debt for equity swaps will dilute the stock. Not to mention all the stock the government holds.

 

Yeah, well, I haven't bought any GM stock....just GM cars

 

Stock speculators start gambling against each other. If the stock goes from 10 cents to 12 cents (or conversely down to 8 cents), someone can make a lot of money. The NYSE delists stocks in this range because they are so easily manipulated by the sharks.

There is also some chance that existing GM stock will have a 'reverse-split' and you might get 1 share in the new company for each 100 or 1000 you own.

 

do not hold this stock in any position of great value, period. you can play with alittle but don't gamble your retirement, kids education, etc.

this baby is gonna be worthless