NEW YORK (Thomson Financial) - Shares of General Motors slumped, but
recovered slightly from earlier lows, after chief executive Rick Wagoner said
bankruptcy speculation was inaccurate.
The stock, a component of the Dow industrials, was down 4.8% at $9.83 on
volume of 30.6 million shares in mid-afternoon trading, compared with the
full-day average over the past 30 days of 31.8 million shares.
The stock was down as much as 8.8% at $9.42 earlier in the session, which
was the lowest price seen in over 5 decades.
Wagoner also said he would continue to look to align production plans with
the marketplace.
Tomi Kilgore
tk1
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