Quote:
Originally Posted by Number 3
All that stock is worthless. When GM issued the NEW shares, the old stock went buhhhhh bye.
As a sad note, though, I heard a 3rd hand tale of a guy that was trying to figure out how to tell his wife he had taken his 401k and gon ALL IN at $7.50 a share KNOWING it couldn't POSSIBLY go lower. He was sadly.............wrong. Hung all the way down to the $2 range which is about where it was when it went kaput. I think the "old GM" stock hovered around 80 cents a share for a bit during the bankruptcy. But none of those share have anything to do with the current shares.
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Thanks for the info Number 3! I never got into trading stocks personally, but did have a deferred comp retirement account. No too long after I retired and just prior to the market/housing/bank/corporation bubble going critical mass I emptied it without any loss for early withdrawl. Not that I had alot, and it was more out of necessity to make ends meet for the kids and education, but I was lucky and didn't take a haircut on the mutual fund accounts like everyone else did. Man, those were dark times indeed. It's so nice to GM thriving again. My father in law is a retiree from GM and is elderly. GM is more than a family company to us.