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What happens to the stock if its delisted? do you just lose the stock or do you get reimbursed what exactly happens? If it stays on the market shouldnt it turn into another AIG or Ford in time?

Good Afternoon All, I am really new to Trading and had some basic questions, I didn't a forum for new members or things of that nature so this seemed like the place. I was interested in getting into the stockmarket and now that GM is declaring Bankruptcy I wanted to buy as much as I...