GM shares hit lowest point in 75 years

NEW YORK (AP) - General Motors shares are at their lowest point in more than 75 years as speculation continues to swirl about the ailing automaker's future.

General Motors Corp. shares hit a low of $1.40 in morning trading Friday, marking their lowest point since May 23, 1933. That's according to the Center for Research in Security Prices at the University of Chicago.

The price is adjusted for splits and other changes.

The drop comes as members of the Obama administration's auto task force continue to meet with the automaker's stakeholders and weigh their options.

On Thursday, GM released its annual report in which its auditors said they had doubts about whether the company can stay in business.

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