GM falls to 1950s levels in stock trading

Wow.

The last time General Motors traded this low, the Dow Jones was trading at 210 points. Yes, that's three figures (just wait a few more weeks, it may be close). A car cost 3,000 dollars. But even for as much as all of these nostalgic things can be thrown out, the fact is that the automotive industry is getting killed in dropping sales and an economy that is making it near impossible for anyone to think about buying a car.

On a day where the stock market plunged another 670+ points, GM's stock finished down $2.15 at $4.76 while rival Ford Motor Co fared only slightly better, off 22% at $2.08.

From Reuters: David Healy, an analyst at Burnham securities, said that the stock has been overreacting to the all the negative headlines lately. "Things will get worse before they get better," he said. "But this company will get through a few more bad years and survive. This is not a stock for widows and orphans."

True, David, but the fear, as anyone will tell you, is because of the fact that no one knows when the bottom will actually hit, and with recession only a moment's notice away, investing is one of the most risky things you can do nowadays. Will it reach the 1940s levels? I bet it will....

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GM falls to 1950s levels in stock trading

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