RPT-UPDATE 1-GM shares down after Kerkorian's sale

Newswire

(Repeats to fix headline) (Adds background, analyst comment, stock activity, byline) By Jui Chakravorty DETROIT, Dec 21 (Reuters) - Shares of General Motors Corp. hit a new low on Wednesday, following the sale of 12 million shares by billionaire Kirk Kerkorian's investment arm. GM stock, already down 50 percent this year, fell to its lowest in more than 18 years after Kerkorian's Tracinda Corp. reduced its stake in the company to 7.8 percent from 9.9 percent late Tuesday, citing ...

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