Whats with the GM ticker sysmbol

[trudawg660]

on gm's website they dont have any public sold stock but i was looking at ford's stock and it referred me to this

http://finance.yahoo.com/q?s=gm

why is it there? is it something that i'm missing

[tjd24]

From their investor website - http://www.gm.com/corporate/investor_information/:

"General Motors Company (the "new GM") currently has no publicly traded securities. Please note that none of the publicly owned stocks or bonds issued by the former General Motors Corporation (now renamed "Motors Liquidation Company"), including its common stock currently traded on the Pink Sheets over-the-counter market under the ticker symbol "MTLQQ", are or will become securities of General Motors Company, which is an independent separate company."

From WikiAnswers - http://wiki.answers.com/Q/What_is_th...rs_Corporation

"General Motors has emerged from bankruptcy and the new GM is no longer publicly traded. It is privately owned by various interests such as the US Government, the Canadian government, bond holders, and the Auto Workers Union. The old General Motors (GM then changed to GMGMQ) has been renamed and given a new ticker symbol. It is now known as Motors Liquidation Company MTLQQ. These shares represent most of the bad assets of General Motors and GM has said that even with the most optimistic of results little to no value will be associated with these shares.

MTLQQ continues to trade due to the fact that 'Short Sellers' had sold this stock without owning it. So at some point they must buy it back to replace the borrowed shares they did not own. Others are laying in wait for these buys happen and until they do, the stock will have some value. MTLQQ is a liquidation company so there could be some value left after the sale of assets but GM has publicly stated they expect little to no value to come from this process as a shareholder of the liquidation company itself. "

[FenwickHockey65]

Originally Posted by trudawg660

on gm's website they dont have any public sold stock but i was looking at ford's stock and it referred me to this

http://finance.yahoo.com/q?s=gm

why is it there? is it something that i'm missing

That's where GM stock stopped being traded when they went into bankruptcy protection. There is no GM stock being traded at the moment, unless you count the virtually worthless Motors Liquidation stock.

IPO should be coming fairly soon though.

[trudawg660]

there is ALOT of money to be made from GM. i wish i could of got some of Ford when the shit hit the fan.

ford would of paid off my camaro, would of been a big slap in the face lol

[FenwickHockey65]

Originally Posted by trudawg660

there is ALOT of money to be made from GM. i wish i could of got some of Ford when the shit hit the fan.

ford would of paid off my camaro, would of been a big slap in the face lol

Kicking myself for not buying a crapload of Ford shares at $1.26/share.

[Q's 91z28]

When the economy tanked,I bought GM instead of Ford I figured GM would come back up....boy was I wrong

[trudawg660]

lol yea i kno that feeling, now its 11.75 i would of bought 1000 shares and made 12,000 dollars. im also beating myself for citigroup, was going to buy when it was like 1.08 a share. was going to get 5000 shares and i changed my mine, 3 to 4 weeks later it went up to 5 dollars. you can do the math.

[trudawg660]

i said i wont let that shit happen again, now its the housing market, fannie mae, and freedy mac i put my 2 cent in, we will see what happens in a couple years. the government doesn't like to shit to fail I.E. the first time home buyers credit.....which didn't work.

[FenwickHockey65]

When Google first went public I told my mom to buy a crapload of shares, but she thought it was too risky.

A month later, they were at $600+/share and I had a lot of fun telling her "I TOLD YOU SO."

[trudawg660]

that feeling sucks so bad. to know you missed out on thousands of dollars.

[FenwickHockey65]

Originally Posted by trudawg660

that feeling sucks so bad. to know you missed out on thousands of dollars.

Indeed it does.

But I will be very proud to be a GM stockholder in a few months.

[trudawg660]

i hope when it goes public its not at a ridiculous price. but i kinda foresee that happening

[SuperFly03]

Originally Posted by trudawg660

i hope when it goes public its not at a ridiculous price. but i kinda foresee that happening

That will depend largely on the amount of shares issued and the earnings at the time.