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GM shares tumble to lowest level since Depression

Posted Tuesday, May 12, 2009, 1:40 pm in Industry

Shares of General Motors Corp. tumbled to their lowest level since 1933 Tuesday morning as investors feared significant dilution of their stock values or bankruptcy as the company approached a June 1 restructuring deadline, the Associated Press reported.

In early trading, GM shares dropped to $1.09, the lowest level since April 28, 1933, according to the Center for Research in Security Prices at the University of Chicago., the AP said. By midmorning, they had rebounded to $1.15, still down 29 cents, or 20.1 percent, the news service reported. (Associated Press/The Detroit News)
 
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