linenoise

An out-of-court restructuring of GM (GM) would leave shareholders with just a 1% stake, Tom Petruno notes. "Even if the company could earn $10B/year at some point, that equates to $100M for the current 600M shares outstanding - about $0.17/share," he says. "Speculators who are thinking of buying should do the math," as insiders who are dumping shares apparently already have. GM -21.5% to $1.13.

Are they waiting for a short squeeze? I'm totally dumbfounded by buyers here.