If I owned some stock in GM right now and they filed for bankruptcy, would it be worthless afterwards?
by 
The Shat aka the velour fog
ANSWERS: 4
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yes, I believe and I seems I am screwed.
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It's worthless now. So pray for a bail out.
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I am not so sure that it would be worthless. I traded (in & out and back and forth again) Enron shares after they had declared bankruptcy. I made some money before Enron went down for the count. So, I don't know how to answer your question except to say watch out!
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Depends on your class of stock. Preferred and bond holders are first in line, but, for the most part, common stock holders are holding toilet paper. I been through it, hoping to get paid off, and still have certificates for SGI (Silicon Graphics Inc) on the wall as an example of what NOT to do when I trade :-) 10,000 shares of that at .95 really seemed like a bargain to me back in 2003 but losing almost ten grand was not fun!
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