DETROIT/NEW YORK, July 15 (Reuters) - Shares of Motors Liquidation Company (MTLQQ.PK: Quote, Profile, Research), representing the "old" General Motors Corp, tumbled more than 50 percent on Wednesday a day after securities regulators warned the stock would have no value.

"Motors Liquidation Company is currently winding its way through bankruptcy court and there is a real possibility that stock holders will receive nothing from these proceedings," the U.S. Securities and Exchanges Commission said on Tuesday.

"While the common stock of Motors Liquidation has not been canceled, investors should not interpret that as indicating that the shares have any value," the SEC said.

The SEC's warning on the shares follows similar warnings by Motors Liquidation and General Motors Co, the new GM that emerged from bankruptcy.

The stock was down 55.7 percent, or 63 cents, to 52 cents in early trading.

Motors Liquidation, representing an ownership interest in the "old" shell of GM, remains in bankruptcy and will liquidate GM assets such as shuttered plants while also assuming liability claims.

The new GM - renamed General Motors Co - emerged from bankruptcy protection on Friday by completing a sale of its best assets such as Chevrolet and Cadillac to a company funded by the U.S. Treasury.

The new GM, which has no publicly traded securities, has said that none of the publicly owned stocks and bonds issued by the former company will become securities for the new company.

It is highly unlikely Motors Liquidation shareholders will receive anything because for them to be paid, all of the other unsecured creditors would have to be paid first, including bondholders who had held $27 billion in GM debt.