General Motors Stock Plunges

General Motors stock tumbles after aid announcement

BY SUSAN TOMPOR • FREE PRESS COLUMNIST • March 30, 2009


General Motors Corp. stock started tanking early this morning, along with the overall stock market, on news that GM would likely only get a short-term government help.

Anxiety built over whether GM would ultimately be able to avoid a bankruptcy.

In trading shortly after 9:30 a.m., General Motors stock fell about 30%. GM was trading around $2.45 a share to $2.50 a share early today.

General Motors stock closed Friday at $3.62 a share, up 21 cents. The low was March 6, when GM stock closed at $1.45 a share.

Ford Motor Co. stock fell about 15% a share in early trading this morning. Ford was trading around $2.39 a share, down 45 cents today.

The Dow Jones industrial average was down about 225 points or 2.9% in early trading today and was trading at around 7,550.

Contact SUSAN TOMPOR at 313-222-8876 or stompor@freepress.com.