liquidation bankruptcy
So GM is out of bankruptcy, is it possible to buy their stock again?
So can a ‘regular’ person invest in GM right now? I’m not thinking about anything big, but like 100 shares or so.
I see their new stock initials are MTLQQ – but there’s alittle warning message when I view the stock saying that they’re in bankruptcy and even the new name stands for something about liquidation.
Thanks for the quick answers, but just to clearify – when I’m buying MTLQQ stock I’m actually buying GM stock right?
MTLQQ is the stock symbol of “the old GM” and it is still bankrupt. The sole purpose of the “the old GM” is to liquidate the assets that were not made part of “the new GM” and the company will cease to exist once those assets are liquidated.
GM itself is not publicly traded yet so you cannot buy the stock yet. The initial public offereing (IPO) of shares in the new GM is not scheduled yet, but the earliest dates discussed so far in the press has been late this year. It may not occur until 2011.
Do NOT buy MTLQQ thinking that it is GM. It is the “Motors Liquidation” company that used to be GM.
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