It looks like General Motors isn’t happy with their current stock price. GM’s stock closed at $9.45 on September 30 which is 78% lower than their $43.20 high price. Despite obvious financial difficulties for GM, its employees have purchased all the available employee stock. The employee stock is limited by the company’s 401(k) programs.
For now all stock purchases through the company are stopped for any employees. GM has to register more stock with the SEC in order to obtain more shares for its 401(k) program. That’s going to happen on November 9. Until then, you’ll have to purchase stock like everyone else who isn’t working for GM does.
via freep
Tags: General Motors, Stock
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