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Non-Tech : GM - General Motors
GM 68.22-1.3%Nov 3 9:30 AM EST
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From: Arthur Tang7/11/2009 4:40:13 AM
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From the intraday charts, these trades are from day traders, who need not notify the bankruptcy court 15 days in advance. they do not hold the stock(gmgmq.pk) for any length of time.

The news from the new GM is largely incomplete, saying the new GM is out of the chapter 11. What is happening to the old GM?

If the old GM is also out of the chapter 11, because the new GM has cash to pay debts, and will give the old GM 20% of the new GM as option to buy from the US treasury(in the prepackaged filing), then the old stock may have some value of the residual assets plus the value of the option of the new GM stock.

So, nothing is revealed in details from the bankruptcy court, and we will hold the old stock until its value can be determined.
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