Yesterday's trading volume for General Motors was greater than CVS Caremark (NYSE: CVS), Procter & Gamble (NYSE: PG) and Capital One Financial (NYSE: COF).

Frankly, I have to admit that I was not even aware that you could still trade the General Motors stock, but sure enough, it is currently trading under the name of Motors Liquidation Co., (MTLQQ.PK), and checking today's action it looks like roughly another 13.8 million shares traded hands, settling at $0.85, down $0.0365.

Perhaps people think they can turn a quick buck day trading this penny stock, I do not really know, but eventually, these shares are going to go $0, and it could happen at any given time.

Some investors have reported that they read online that Motors Liquidation is the new GM. If you have read this, trust me this is not the case! I will not throw out any allegations, but these people could be falling victim to "pump and dump" schemes that raise interest in stocks only to sell into the strength.

General Motors has stated that it does not plan to issue new shares until next year... so if you have been buying up these shares thinking that you are getting in early on new General Motors then you are mistaken. You can be sure that once new GM stock hits the market you will be hearing all about it on the major stock and news sites, and there will be no confusion to the truth of the news. Until you hear about new stock from the bigger, more respectable stock news sites, take what you read with a grain of salt.

Brokers are rushing to say that this is a situation of "buyers beware" and that it is the traders responsibility to do their own research, but it is easy to see how some people could get confused. Ameritrade and Scottrade for example describe Motors Liquidation as a company that makes and sells cars and trucks all over the world. Sounds nice... but in actuality it is merely a shell company that has been set up to oversee the liquidation of General Motors bad assets.

In fact, Motors Liquidation was only formed on July 10 when General Motors emerged from bankruptcy. On July 14, the Securities and Exchange Commission and the Financial Industry Regulatory Authority issued a warning to investors against buying or holding shares in Motor Liquidation... but that warning has gone unheeded.

Have you been trading shares of Motors Liquidation? If so, were you mislead to believe that the penny stock is actually new General Motors stock, or are you looking to just make a quick buck before the shares vanish?