"Funny" Financial News

GM announced today that they lost almost $39 billion dollars last quarter. (Actually, they'd been loosing the money steadily over time, but they were carrying the losses on their books so they could reduce their taxes next time they make a profit. The rules changed so they can't carry it indefinitely anymore.)

Here's the crazy thing, that loss is equal to almost $69 per share. The stock is trading at around $33 a share. The means that GM lost an amount of money equal to twice it's total value. I'm surprised that the stock price didn't crash more than it already has.