Mad Mail: Why Is GM Still Trading?

Hey Cramer: If General Motors' stock is worthless, why is it trading on the market? There seems to be a continued interest by quite a few individuals, considering GM's position. Are we missing an opportunity that only a few know about? --Jim

Cramer says: “It’s beyond me why they let you trade it. Maybe they want to allow people to be able to sell it to book the loss for tax purposes. But this stock will be ultimately not part of the configuration of the new GM. It’s a cynical gambit. I felt that the SEC should have said, ‘Guys, cancel it.’ But they didn’t. So it lives to play another day, even though it’s already dead.”

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