terça-feira, 2 de junho de 2009

GM and Ebay

Q. Are any current stockholder’s shares worthless? What options exist for stockholders?

A. Sell, if you possibly can.

The shares will no longer trade on the New York Stock Exchange beginning on Tuesday. But the stock is likely to trade, in a limited fashion, on the Pink Sheets, an electronic quotation system for companies that do not meet the listing standards for the stock exchanges.

Most shareholders are typically wiped out in bankruptcy, financial planners said, which is why G.M. stockholders should probably dump their shares if they can. Warren F. McIntyre, a financial planner in Troy, Mich., said that many people “don’t realize that usually a new share class is issued and the holders of the old shares are wiped out.”

But getting rid of the stock may be difficult, and if you have too few shares, the brokerage commission alone may wipe out any proceeds from the sale.

If you have the actual stock certificates, you might try to sell them on eBay. You may be able to get more for them as collector’s items. It’s worth a shot.

Source: NYTimes.