Why is it when we hear about the “GM Recovery” we never hear about the devaluation of the GM stock?
Question by Mark: Why is it when we hear about the “GM Recovery” we never hear about the devaluation of the GM stock?
The “recovery” was, for a large part at the expense of the shareholders. There was a lot of money that just vanished when the stock was devalued to ZERO. My parents had $ 20,000 worth of preferred GM stock and it was devalued to ZERO. There were many many more just like them. Now supposedly the company is in great shape but I guess that’s easy to do when you wipe out all of your stock obligations.
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Answer by Justin Ellis
my net worth is over 9000
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