| So General Motors declares Chapter 11 bankruptcy protection on June 1. The company notes that: "GM management strongly believes that any recovery for the common stockholders in the Chapter 11 bankruptcy process is highly unlikely, even under the most optimistic of scenarios." So the stock drops to $0.00, right? Wrong! It drops to $0.27, gets put on the Pink Sheets (reserved for sick stocks), removed from the DOW ... then recovers:  Who says investors aren't optimists, eh?  |
Monday, June 15, 2009
GM, eh?
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