In this series, we take a look at the 25 stocks on the S&P 500 Index (SPX) that have turned in the worst performance during the past decade -- what went wrong, and what happens next.
General Motors Corporation (NYSE: GM) enjoyed the title of "world's largest automaker" nearly uninterrupted since 1931, with only a few irregular years marring its perfect record. Last year, GM found itself edged out not by its cross-town rival Ford (NYSE: F), but by its Japanese foe Toyota Motors (NYSE: TM).
A slowdown in auto sales is still pressuring companies across the sector, but Toyota's fuel-friendly economy cars -- such as the Yaris, Camry, and Prius hybrid -- have heightened the brand's appeal among consumers wary of high fuel prices. By contrast, GM manufactures the Hummer, flagship vehicle of suburban Earth-haters everywhere.
What went wrong? At No. 12 on our list of SPX laggards, GM shed 79% of its value during the 10-year period that concluded on June 30, 2008. The stock peaked at $94.63 in April 2000 before embarking on a lengthy downtrend.
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