GM: General Misunderstanding about the stock

There shouldn't be anyone left on the planet that doesn't know GM went bankrupt. At least not amongst people who might buy and sell stocks. It came to me as some surprise then, when I checked GM's stock price today, that it was actually up. The stock was up 2.5% today to a whopping $0.52 per share! Lest you think only a few shares traded hands, some 32 million shares traded today and has averaged about this volume since filing chapter 11. That's $16 million of GM stock trading each day. (By the way, the name of the "old" GM was changed to "Motors Liquidation Company" under ticker symbol "MTLQQ").