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I just can't understand why GM's stock price continues to hold around the $2 mark. Especially with news like this coming out:
From Reuters article.
...In an unusual filing with securities regulators, GM also detailed plans that would leave current shareholders with only a 1 percent stake if stock is transferred to the U.S. government, the United Auto Workers and bondholders in exchange for debt forgiveness as planned.
GM also warned that shareholders likely would be wiped out if the automaker failed to complete the restructuring and filed for bankruptcy...
Can anyone enlighten me as to why GM isn't a penny stock yet?
From Reuters article.
...In an unusual filing with securities regulators, GM also detailed plans that would leave current shareholders with only a 1 percent stake if stock is transferred to the U.S. government, the United Auto Workers and bondholders in exchange for debt forgiveness as planned.
GM also warned that shareholders likely would be wiped out if the automaker failed to complete the restructuring and filed for bankruptcy...
Can anyone enlighten me as to why GM isn't a penny stock yet?
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