It really is amazing that in a few weeks if you want to buy shares of GM it will be over the counter

[RB TexLa]

They already fail the NYSE listing requirements, when they file the bankruptcy they will fail AMEX listing requirments as well.

[imdjh]

1. So what happens?

If you buy GM at a dollar, and they file bankruptcy, does their stock become permanently worthless? Or can it come back some day?

[RB TexLa]

2. Just trades over the counter

It can be relisted on an exchange later.

[ThomWV]

3. As long as the company exists it can come back - but do you think it will?

I haven't looked but two days ago you could have bought a share for a buck and a half - roughly. A hundred and fifty bucks will get you a hundred shares. Think it will come back at all? Think it will hit two bucks, three bucks? What you got to lose?

[imdjh]

4. Well ..... IF

If I had bought 10,000 shares when it hit a buck a few weeks ago, assuming greed on my part I would have held at $4 and then sold in panic at $3 so I would have made $20,000. Of course, the reason I didn't do that was because I was afraid of losing $10K given that Deutschebank had given the one year target as ZERO.

I don't have the stomach for losing money. I know that technically my savings are losing money, but the number doesn't go down in my savings account like it does in my scotttrade account.

[proud2BlibKansan]

5. It was down to 1.13 the other day

[Crabby Appleton]

6. You will very likely lose your money

In all likelihood GM will file for bankruptcy at the end of May. Should that happen, the stock symbol will have a Q appended to the end of it's name - GMQ - with the Q signifying the company is in BK, the share price will fall further and it will be delisted by the NYSE and won't qualify for anything but OTC trading. OTC stocks are tracked on what's called the pinksheets ( www.pinksheets.com )and it's a dangerous place for amateurs. The BK company files a Plan of Reorganization with the BK court. There is a strict hierarchy of where various creditor classes stand in line for payment, and current stockholders are at the end of that line, behind the unsecured creditors. If there is not enough cash and other assets to entirely pay the unsecured creditors on the effective date of the POR, then they are partially paid in shares of the newly reorganized company, and the existing shares are canceled and those shareholders get absolutely nothing.

see article for examples:

http://www.seattlepi.com/money/328102_singletary18.html