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Still Doin Time
Join Date: Nov 2004
Location: Nokesville, Va.
Posts: 8,225
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GM Stock Question.........
So today reading the local rag; business section reporting about GM stock. In layman's terms please answer: Did the original GM stock/shares post bankruptcy the same as pre ?
Or maybe a little closer to the point. Gm stock fell to point where it was delisted and 'trading' under $1.00 - then bankruptcy. If you owned the pre-b stock, did shares come back from the dead or if you owned them then you lost out completely and all new stock shares are issued? - thanks!
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'15 Dodge - 'Dango R/T Hauls groceries and Kinda Hauls *ss '07 Jeep SRT-8 - Hauls groceries and Hauls *ss Sold '85 Guards Red Targa - Almost finished after 17 years '95 Road King w/117ci - No time to ride, see above '77 Sportster Pro-Street Drag Bike w/93ci - Sold |
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06-06-2012, 10:47 AM
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Registered
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Old GM shares are worthless, as far as I know. Tax loss time.
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06-06-2012, 11:02 AM
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Checked out
Join Date: Jun 2009
Location: On a beach
Posts: 10,127
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That's correct. The old pre-bky stock is wiped out and becomes worthless.
New stock is issued and sold. |
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06-06-2012, 11:22 AM
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1989 Porsche 911 Carrera 3.2
