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GM's Market Value Is Only $7 Billion—Half That of Avon

Topics:Automobile Industry | Earnings | NYSE | Stock Picks | Stock Market

Sectors:Automobiles and Parts

By: Matt Nesto, CNBC.com | 26 Jun 2008 | 05:13 PM ET

Text Size

General Motors
AP

How the mighty have fallen.

At one time, General Motors was considered the pre-eminent US corporation, a giant among giants.

But now, on news that Goldman Sachs reduced the company's rating to "sell", GM's shares [GM Loading... () ] have plummeted to less than $12, the lowest level since 1955.

That means the world's largest auto maker has a stock market value of only about $7 billion. That compares with a market cap of about $56 billion in 2000, when the stock was at its all-time high of $94.62 a share.

To put that in even more perspective, GM's market value is now roughly equivalent to that of tax-preparation provider H&R Block [HRB Loading... () ] or toy maker Mattel [MAT Loading... () ].