5-Hour Energy: A Success Equal Parts Caffeine, Chemistry and…
Suddenly, Amazon Doesn't Love Its Moms AnymoreHere's something you don't see very often: A company files for bankruptcy protection and its stock price soars.
Shares of General Motors (NYSE: GM) are currently trading up about 6% to just under 80 cents per share -- but moved as high as $1 in earlier trading.
But why? There had been reports that GM stockholders would get a 1% stake in the restructured company, but now it's expected that they'll get a well-deserved zero. In response to a Washington Post reader's question about what happened to shareholders a result of the bankruptcy, auto industry consultant William Holstein writes that "GM stockholders are expected to be wiped out. You get nothing for your shares. They become collector's items. "
Shares of General Motors (NYSE: GM) are currently trading up about 6% to just under 80 cents per share -- but moved as high as $1 in earlier trading.
But why? There had been reports that GM stockholders would get a 1% stake in the restructured company, but now it's expected that they'll get a well-deserved zero. In response to a Washington Post reader's question about what happened to shareholders a result of the bankruptcy, auto industry consultant William Holstein writes that "GM stockholders are expected to be wiped out. You get nothing for your shares. They become collector's items. "
Goldman Earnings Sink After Buffett Dividend
Johnson & Johnson's Income Falls 23%
Burberry Shares Leap on Sales Update
