GM stock hits 65 year low with cash holding concerns

If there's something to be said about General Motors' forthcomingness, (Yes, I know that's not a word, so what), it's that the auto maker has been brutally honest about their cash issue and the impending swoon that it will follow. However, in terms of these remarks, the company's stock continues to plummet as more and more bad news piles up, and in today's trading, the stock dropped to a new 65-year low amid concerns that the company's liquidity and reserves would not meet minimums for the first quarter.

GM's shares were down 15 percent, or 51 cents, at $2.85 on the New York Stock Exchange. The stock earlier dropped as much as 18 percent to $2.76, its lowest level since 1943. This marks more than a 40 percent drop in share price since the announcement of bigger losses than expected were made public last week.

Is the sky falling? Perhaps. And has it bottomed out? Don't know, but don't count on it. Until there is a firm plan in place other than rumors and the government can fixate on exactly what can be done to help the big three and especially GM, there's no telling how much this will fall.

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GM stock hits 65 year low with cash holding concerns

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