GM Shares Hit 7-Decade Low At $1.57

[babylonsister]

http://www.breitbart.com/article.php?id=D96FFHF01&show_article=1

GM shares hit 70-year low
Feb 20 01:38 PM US/Eastern


NEW YORK (AP) - General Motors shares are at their lowest point in more than 70 years as speculation continues to swirl about the future of the struggling automaker.

General Motors Corp. shares hit a low of $1.57 in afternoon trading Friday, matching a low set on March 31, 1938. That's according to the Center for Research in Security Prices at the University of Chicago.

The price is adjusted for splits and other changes.

Shares of the Detroit-based automaker have tumbled in recent weeks, falling from $3.50 a month ago.

On Tuesday, GM said it would need a total of $30 billion in federal aid in order to avoid filing for bankruptcy protection.

The broader markets also tumbled on worries over the health of the financial sector.