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<blockquote data-quote="Catatonic" data-source="post: 975822" data-attributes="member: 7966"><p>Klein - with every post you display your total ignorance of how the stock market works especially under bankruptcy.</p><p></p><p>The old GM stock example is exactly what is going to happen with the Kodak stock and I was going to use it but chose K-Mart instead.</p><p></p><p>GM is currently traded with the "GM" symbol which is the stock that was issued on 11/18/2010 at $35/share on the NYSE after the bankruptcy proceedings. $22 a share today.</p><p></p><p>The people that had the old GM stock before GM went into bankruptcy, own a stock with the symbol <u><strong>(MTLQQ</strong></u>) which is valued at ZERO.</p><p>This is an excerpt from Investors FAQ:</p><p><em>The old GM Corporation common stock became Motors Liquidation Company common stock in June 2009, and traded as MTLQQ on the over the counter market until the confirmed bankruptcy plan cancelled the shares on March 31, 2011. The stockholders did not receive any consideration for their holdings and the stock no longer has value.</em></p><p></p><p><span style="color: #ff0000"><strong>BCers -I assume you have enough sense to never take advice from Klein but definitely don't take the advice on Kodak.</strong></span></p></blockquote><p></p>
[QUOTE="Catatonic, post: 975822, member: 7966"] Klein - with every post you display your total ignorance of how the stock market works especially under bankruptcy. The old GM stock example is exactly what is going to happen with the Kodak stock and I was going to use it but chose K-Mart instead. GM is currently traded with the "GM" symbol which is the stock that was issued on 11/18/2010 at $35/share on the NYSE after the bankruptcy proceedings. $22 a share today. The people that had the old GM stock before GM went into bankruptcy, own a stock with the symbol [U][B](MTLQQ[/B][/U]) which is valued at ZERO. This is an excerpt from Investors FAQ: [I]The old GM Corporation common stock became Motors Liquidation Company common stock in June 2009, and traded as MTLQQ on the over the counter market until the confirmed bankruptcy plan cancelled the shares on March 31, 2011. The stockholders did not receive any consideration for their holdings and the stock no longer has value.[/I] [COLOR=#ff0000][B]BCers -I assume you have enough sense to never take advice from Klein but definitely don't take the advice on Kodak.[/B][/COLOR] [/QUOTE]
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