It is no surprise that investors of General Motors Corp. are worried. However, shareholders were frantic yesterday as they got hold of news that six executives (including former Vice Chairman and Product Chief – Bob Lutz) at the company had sold almost US$ 315K in stock, as well as liquidated their outstanding direct holdings in GM. GM’s stock plummeted over 21% to US$ 1.09 yesterday, it’s 76 year low. Chrysler LLC meanwhile is gasping for air as well, as it was forced to file Chapter 11 Bankruptcy protection, and GM could possibly be next.
Post a Comment