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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
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] 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
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] or toy maker Mattel [MAT
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].
Even more humbling for the auto maker, GM's value is now:
- Half that of cosmetics company Avon [AVP
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- A third of cruise operator Carnival Cruiselines [CCL
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- A quarter of Internet media company Yahoo! [YHOO
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- A fifth of online auction house Ebay [EBAY
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- A sixth of retailer Home Depot [HD
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- A seventh of biotech firm Amgen's [AMGN
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] league
- An eighth of drugstore chain CVS [CVS
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]
- A ninth of fast-food giant McDonald's [MCD
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Last, but not least, GM is now 1/66th the size of fellow Dow component Exxon. [XOM
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Data is a real-time snapshot *Data is delayed at least 15 minutes