Will the current GM security be the same that is released as an IPO. If I bought the current share at $ .60 will it go to the IPO price on that date.
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No…MTLQQ will eventually go away and be worthless…MTLQQ is not the same company as GM. GM makes cars, MTLQQ sells off pieces of the old GM – when all the pieces are sold off, the money will be distributed to creditors and MTLQQ itself will go out of business.
Please read the links below, directly from the new General Motors Inc and the old Motors Liquidation Company.
Point 1, from GM:
“General Motors Company (the “new GM”) currently has no publicly traded securities. Please note that NONE of the publicly owned stocks or bonds issued by the former General Motors Corporation (now renamed “Motors Liquidation Company”), including its common stock currently traded on the Pink Sheets over-the-counter market under the ticker symbol “MTLQQ”, are or will become securities of General Motors Company, which is an independent separate company.”
Point 2 from Motors Liquidation:
“Management continues to remind investors of its strong belief that there will be NO value for the common stockholders in the bankruptcy liquidation process, even under the most optimistic of scenarios. “