Analyst Says GM Bankruptcy Possible: Reports

Law360, New York (July 3, 2008, 12:00 AM EDT) -- General Motors Corp. stock fell sharply last week, reportedly because of speculation that the company might face bankruptcy due to a slowing auto market.

The company's stock dropped about 15% on Wednesday, closing at $9.98 – its lowest price in 54 years, according to published reports. The company's stock, which was trading at over $36 at this time last year, has been falling steadily in recent months as the auto market has slowed.

The followed reports in the St. Louis Post-Dispatch and other news sources that...
To view the full article, register now.