Shares in General Motors close below $10 for the first time since 1954

The Associated Press ,  New York   |  Thu, 07/03/2008 4:19 PM  |  Business

Shares of General Motors have closed below $10 for the first time in 54 years.

The shares have ended the day at $9.98, down 15.1 percent, their lowest since Sept. 13, 1954.

Detroit-based General Motors Corp. is suffering from lagging sales and concerns over its cash position.(**)

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