changes, while its traded volume is getting higher every day. Yesterday, MTLQQ lost 2.43% from its price and its volume jumped over 4 million shares traded.According to the records, the volume of MLC has been keeping quite impressive values lately, which indicates the investors’ weaker interest in the stock.
Most probably, it’s a result of the recent news that the potential buyer for a General Motors plant in Indianapolis has dropped the offer after the workers rejected the pay cuts it sought. Though the deal was off, the management team claimed it shouldn’t be such a big problem for the workers. Still, there’s no guarantee for their future.
Obviously provoked by this news, MTLQQ stock keeps falling down and traders are not much optimistic about it.[BANNER]
A few days before the announcement on the rejected agreement, the company made efforts to push up its stock price by publishing some optimistic news, though without any success.
On Sep. 8, a warning from Pink OTC Markets News Service appeared, stating that “The SEC and FINRA have issued an Investor alert concerning the trading of Motors Liquidation, MTLQQ (formerly General Motors Corp., GMGMQ)”. That was another red signal for investors, and more bad news for MLC.
In June last year, Motors Liquidation Company filed for bankruptcy and in July all of the company’s assets were sold to the new independent company, General Motors. According to the records, Motors Liquidation expects to seek court approval for its plan of liquidation this year, but the management claims that common stockholders will not recover anything in the bankruptcy liquidation process. At the same time, the current financial condition of MLC is unknown.
