Not a valid option. Once the stockholders are wiped out in bankruptcy, game over. They've lost their money.
Any *new* stock GM may issue emerging from bankruptcy will have to be purchased. But then, why would anyone want to buy stock in any company now that the US Government has resorted to wiping out share holders and secure debt holders by forcing companies to accept pro-union terms?
That’s what I meant: the poster’s better off going to the track. (Although he might be able to use the GM stock certificates as cheap wallpaper).