GM Shares Tank

PENNY STOCKS

Updated Apr. 25, 2017 3:05PM EDT / Published May 12, 2009 8:44AM EDT

When the bosses are selling the stock in their company, you know bankruptcy is around the corner. Shares of General Motor fell by 22 percent Tuesday, as six GM executives revealed they had "sold almost $315,000 in stock and liquidated their remaining direct holdings in the automaker," Reuters reports. It appears likely that the once-mighty automaker's stock will either be worthless altogether, or worth less than two cents a share. GM has been listed on the Dow Jones Industrial Average for 83 years in a row, second only to General Electric. Now, its total value of $690 million makes it one of the smallest companies on the Dow.

Read it at Reuters

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GM Shares Tank