By: Bernard Simon and Nicole Bullock
Source: ft.com
General Motors’ shares slid to their lowest level in more than 70 years on Tuesday amid increasingly loud signals that the Detroit carmaker is headed for bankruptcy protection within the next three weeks.
The shares closed down at $1.15, down more than 20 per cent, which gives GM a market value of just over $700m. By contrast, Toyota, which overtook GM last year as the world’s biggest carmaker by sales, is valued at $120bn.
