UPDATE 2-Kerkorian cuts GM stake, shares plunge

Newswire

(Adds details, background, bond price) By Kevin Krolicki DETROIT, Nov 22 (Reuters) - Billionaire Kirk Kerkorian's Tracinda Corp. investment firm on Wednesday said it had sold $462 million of stock in General Motors Corp this week, cutting its stake in the automaker to 7.4 percent from 9.9 percent. The news sent GM stock plummeting. Shares lost more than 5 percent in mid-afternoon trade on the New York Stock Exchange - the largest one-day fall in percentage terms since Oct. 6, when the ...

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