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GM Stocks Drop to 58-year Low
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by Jarrett Martineau | October 10, 2008 at 01:14 pm
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Today's Other Bailout: $25bn for Auto Makers, Bush signed. Revolving loans GM to save?
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More bad news on the market front: as the Dow tumbled today, shares of General Motors declined even faster and more dramatically -- to a 58 year low of $4.65.
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Shares of General Motors Corp., one of the 30 stocks that make up the Dow, tumbled $2.15, or 31.1 percent, to close at $4.76 after falling as low as $4.65. That low marked the automaker's lowest trade since March 15, 1950, according to the Center for Research in Security Prices at the University of Chicago. GM and Ford Motor Co. stock plunged in the waning minutes of trading after Standard & Poor's Ratings Services placed their credit ratings under review for possible downgrade.Ford's stock was down 58 cents, or 21.8 percent, to close at $2.08
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at 23:45 on October 10th, 2008
Jarrett Martineau, I like this story. In total the next Bailout GM $450bn