GM Shares Plummet On Analyst Report
A Deutsche Bank analyst forecast that GM’s shares would soon be valued at $0 sent the car company’s stock plummeting another 24% today. The analyst took the view that GM would either enter into bankruptcy or would enter into a government bailout that would leave shareholders with no equity.
The stock fell to $3.02 in early trading, their lowest in over 60 years. Shares climbed back to $3.36 by the end of trading.