Shares of General Motors Corp. tumbled to their lowest level since 1933 yesterday as investors feared significant dilution of their stock values or bankruptcy as the company approached a June 1 restructuring deadline.

GM stock was briefly down to $1.09 US, and closed at $1.15 US, down 20 per cent on the day.

GM said six top executives sold 200,000 shares on Friday and Monday, including retiring vice-chairman Bob Lutz, who sold 81,360 shares at $1.61 each.

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