Why is GM stock halted?

Answer 1

General Motors (GMGMQ) was halted by FINRA after it became apparent that investors were trading it thinking that they were investing in the new GM which is emerging from bankruptcy. This is not what the symbol GMGMQ represents. GMGMQ represents most of the bad assets and debt that were responsible for General Motors filing for bankruptcy in the first place. What's worse is that they have now stripped out most of the good assets. GMGMQ now represents Motor Liquidation Company and GM has stated that "It is our strong belief that there will be no value for the common stockholders in the bankruptcy liquidation process, even under the most optimistic of scenarios" If you would like to invest in the new GM, you will have to wait until it IPO's most likely late 2010.