What happened to the old GM?
The old GM sold almost all of its assets to the new GM, then it was renamed "Motors Liquidation Company," said Jim Marchesi, a certified financial planner with Mill Ridge Wealth Management in Chester.
What happened to GM stock after the company goes bankrupt?
Early on in the GM bankruptcy, regulators explained that GM stock could be canceled. The new GM, which emerged after the old GM went through bankruptcy, has no publicly traded stock right now. Investors who own Motors Liquidation shares did not and will not get new stock in the restructured GM when the company makes its initial public offering.
Is the old GM stock worth anything?
The new GM, which emerged after the old GM went through bankruptcy, has no publicly traded stock right now. Investors who own Motors Liquidation shares did not and will not get new stock in the restructured GM when the company makes its initial public offering. It sure sounds like the old GM stock is worthless. But it's not quite so.
What happened to General Motors stock in 2012?
In September, GM reported August sales up 10 percent from 2011. The company said Chevrolet passenger car sales were up 25 percent. General Motors repurchased 200 million shares of common stock from the U.S. Treasury on December 21, 2012. At the end of the trading day, December 31, General Motors Company stock closed at $28.83.
What happened to the old GM stock shares?
Isn't it? The old GM stock stopped trading on the New York Stock Exchange on June 1, 2009, the day that GM filed for bankruptcy. Each share of GM stock became a share in Motors Liquidation. While it was widely reported that the shares were worthless, those shares still traded, then and now, over the counter.
What happened to GM stock after bailout?
WASHINGTON -- The federal government on Monday sold its remaining shares of General Motors Co. stock, ending the controversial $49.5-billion bailout of the automaker with an approximately $10.5-billion loss for taxpayers.
Is GM stock worth buying now?
General Motors Company - Sell Valuation metrics show that General Motors Company may be undervalued. Its Value Score of A indicates it would be a good pick for value investors. The financial health and growth prospects of GM, demonstrate its potential to outperform the market. It currently has a Growth Score of C.
What happened to GM bond holders?
DETROIT -- General Motors gm has struck a deal with 20% of its bondholders to swap shares in a newly formed automaker once the company emerges from bankruptcy, the company said in a filing with the Securities and Exchange Commission on Thursday.
Does the government still own GM stock?
U.S. taxpayers no longer own any of automaker General Motors. The Treasury sold the last of its remaining 31.1 million GM shares today. It started with 500 million shares in 2010.
How much does GM owe the government 2021?
In total, GM received $52 billion from the U.S. government, but only $6.7 billion of this amount was considered a loan. The company already paid back $2 billion, so this $4.7 billion is the last payment. This doesn't mean that “Government Motors” is no more.
How much will GM stock be worth in 5 years?
Based on our forecasts, a long-term increase is expected, the "GM" stock price prognosis for 2027-06-04 is 69.053 USD. With a 5-year investment, the revenue is expected to be around +97.24%. Your current $100 investment may be up to $197.24 in 2027. Get It Now!
Who owns the most GM stock?
Top 10 Owners of General Motors CoStockholderStakeShares ownedThe Vanguard Group, Inc.6.84%99,786,914Capital Research & Management Co....5.57%81,227,171Capital Research & Management Co....5.12%74,587,645BlackRock Fund Advisors4.56%66,491,7866 more rows
Is GM a good stock to buy 2022?
GM trades for six times projected earnings of about $7 a share in both 2022 and 2023, one of the S&P 500 SPX –0.38% index's lowest price/earnings ratios. Its market cap of $60 billion compares with $1 trillion for Tesla (TSLA). “The stock is very attractive.
What would have happened if the government didn't bailout GM?
In the absence of a bailout, GM and Chrysler would each have been forced to file for bankruptcy like any other company in their circumstances. It is possible that Chrysler would have then faced liquidation (though even this is questionable, given the value of its assets and its brands).
What is Mtlqu?
MTLQU : Motors Liquidation Co Motors Liquidation Co is primarely in the business of motor vehicles & passenger car bodies. For financial reporting, their fiscal year ends on March 31st.
What was the name of the company that sold all of its assets to the new GM?
The old GM sold almost all of its assets to the new GM, then it was renamed "Motors Liquidation Company ," said Jim Marchesi, a certified financial planner with Mill Ridge Wealth Management in Chester.
Is the new GM a separate entity?
Motors Liquidation Company and the "new" GM are separate entities,'' Marchesi said. He said the new GM -- General Motors Company -- currently has no stock or bonds owned by the public. Moreover, none of the stock or bonds currently held in Motors Liquidation Company (the old GM) will become securities of the new GM, he said.
When did GM stock stop trading?
The old GM stock stopped trading on the New York Stock Exchange on June 1, 2009, the day that GM filed for bankruptcy. Each share of GM stock became a share in Motors Liquidation. While it was widely reported that the shares were worthless, those shares still traded, then and now, over the counter.
What was the failure of 2009?
One of the many spectacular failures of 2009 was General Motors. Unbelievably, GM went from one of the most important companies and stocks in the nation to a penny stock. GM got a bailout, but its shareholders didn't.
Is GM stock publicly traded?
The new GM, which emerged after the old GM went through bankruptcy, has no publicly traded stock right now.
Can you sell a stock to recognize a loss?
In that case, you can't sell in order to recognize a loss. If you invested in something that is now worthless, you would at least like to be able to deduct the loss, wouldn't you? You can. There is an exception to the general rule that you can't claim a loss on a stock investment until you sell the shares.
Is there a loss on a 1040 for 2009?
Until the Motors Liquidation shares are sold, there is no loss to report on Schedule D of the 1040. It's too late for 2009, but if you sell it now, you can take it as a capital loss on your 2010 Form 1040. The cost basis from your GM shares transfers over to the shares in Motors Liquidation.
