Tuesday, May 12, 2009

Why You Should Dump Your GM Stock Now

All morning, there has been reports on GM. Reports that indicate that you should sell your stock in GM now. If you don't cut your losses now, you risk losing everything. We all know GM is teetering on bankruptcy, but the news today, seems to indicate that it is a sure thing.

General Motors ($1.13, -$0.31, -21.65%) shares fell after regulatory filings showed six executives dumped their remaining stakes in the company. All six insiders sold all of their remaining shares, though, according to their filings, they still hold restricted stock units - securities that can't be sold until they retire. Common shareholders would be unlikely to share in any recovery if GM were to file for bankruptcy.
- Wall Street Journal


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Posted by Prince of Thrift at 5/12/2009 01:48:00 PM
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