GM stock falls 22%, Ford stock falls 13%

As reported earlier this morning, a group of executives, including Bob Lutz, sold all their shares in General Motors. Following the news, GM’s stock plunged more than 22 percent to a 76-year low.

Ford’s stock also dropped 13 percent during early trading today, following news that the Dearborn automaker is offering 300 million new shares of its stock in a public offering.

– By: Kap Shah

Source: CNNMoney and Free Press