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Owners of GMGMQ stocks (the new GM's stock ticker) will get 1% of the company after restructuration under chap 11. This is already a miracle because in normal times, they should have zero or say, 0.1%. But GM's bankrupcy is all but normal.
At $1.20, common stock holders are valuing the company at twice its current estimated value.
And I wouldn't bet that the current estimated value will still be that much in one year.
I'm almost certain that after liquidation the company will still need to raise money, or that the entities owning it will sell their stakes at a discount of actual value etc.
So IMO, GMGMQ is not interresting unless you can get it under $0.40.
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