FINRA – Investor Alert – Investing in a Bankrupt Company: A High Risk Venture
Jul 27th, 2009 | By Charles L. Stanley CFP® ChFC® AIF® | Category: Investing
What is the opportunity investing in GM stock? Can it be profitable coming out of bankruptcy? If you think so, think again. Read this Investor Alert.
The SEC and FINRA are issuing this Alert because we believe there may be widespread misunderstanding by investors that stock in the “old” General Motors Corporation (now known as Motors Liquidation Company) is related to the “new” General Motors Company (new GM). FINRA halted trading in old GM (which had been using the GMGMQ trading symbol) on July 10, 2009, and has since issued a new ticker symbol for the old GM stock—MTLQQ—to avoid having it confused with the new GM, which currently has no publicly traded securities.
This Alert also reminds investors that holding shares of any company involved in bankruptcy, or buying shares in a bankrupt company in the hope that those shares will surge in value down the road, are highly risky courses of action…
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FINRA – Investor Alert – Investing in a Bankrupt Company: A High Risk Venture
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