Just a short while after General Motors CEO and Chairman Ed Whitacre announced he’ll hold onto his job indefinitely, shares of the old GM stock, the Motors Liquidation Company (MTLQQ) are up 3 cents, or 5%, at 66 cents. As has been noted many times in the past in many places, these shares are not expected to be part of the new General Motors, which currently has no publicly traded shares. GM’s said, and the SEC has said, MTLQQ will expire worthless. But hope springs eternal, apparently.
In case you missed it, the Financial Industry Regulatory Authority wants you to read up on the dangers of playing shares in the Pink Sheets of bankrupt companies.
No comments:
Post a Comment