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  1. #1
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    Question about GM stock

    I see its at 1.12 today. I don't do anything with individual stocks and am wondering what those of you who do think about this. I realize the stockholders are the last to get a cut after bankruptcy. Is the bankruptcy a sure thing now. What is the short-term growth potential of this stock?


    Exaggeration is a BILLION times worse than understating.

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    Re: Question about GM stock

    Give him time. I think GMacs stock will go up quite a bit after the '09-'10 season. Wait it out.



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    Re: Question about GM stock

    Quote Originally Posted by wartknight View Post
    I see its at 1.12 today. I don't do anything with individual stocks and am wondering what those of you who do think about this. I realize the stockholders are the last to get a cut after bankruptcy. Is the bankruptcy a sure thing now. What is the short-term growth potential of this stock?
    GM is going to go into bankruptcy.



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    Re: Question about GM stock

    The chances of getting anything out of bankruptcy is very small, just look at the sale yesterday by GM execs of thier stock.

    You can look at it like you are buying an option, but it would be a slim chance of gain.



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    Re: Question about GM stock

    I don't know if this is the latest but this article indicates that current shareholders will be essentially diluted out of existence when the company issues 60 billion new shares as it emerges from bankruptcy. So current shares will be worth 1 cent a piece. I guess the market thinks GM has a shot at avoiding bankruptcy though as it is trading at a buck a share.

    http://tinyurl.com/r5plx2



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    Day trade it for the dead cat bounce then

    bail....



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    Re: Question about GM stock

    If you buy shares in GM and they go bankrupt (which is most likely) you will be left with nothing.



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    Re: Question about GM stock

    Quote Originally Posted by dmclone View Post
    GM is going to go into bankruptcy.
    I haven't been following that situation too closely. That's a sure thing now? No more bailouts? I thought maybe with another bailout there may be a nice uptick.


    Exaggeration is a BILLION times worse than understating.

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    Re: Question about GM stock

    If you would like an alternative investment that is every bit as safe as GM, I have a Nigerian prince that needs just a little money.....



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    Re: Question about GM stock

    Quote Originally Posted by wartknight View Post
    I haven't been following that situation too closely. That's a sure thing now? No more bailouts? I thought maybe with another bailout there may be a nice uptick.
    you forgot your sarcasm pirate !!



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    Re: Question about GM stock

    Run do not walk for stage left by selling. The bond holders are destined to make more money from credit swaps defaults so they will not cave: $2 billion profit. AIG, BA, or WFC (aka govt) probably will pay the CDOs out in near future. Therefore, stock is kaput. Start the bus.


    Last edited by Wesley; 05-13-2009 at 11:44 AM.
    Let Prohm's Posse Ride: Georges, Georgios, 3sus, Hallice, Deonte, Abdel, Monte, Matt, and McKaT.

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    Re: Question about GM stock

    As someone said, the GM Execs are dumping. Bankruptcy seems likely.



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    Re: Question about GM stock

    Quote Originally Posted by wartknight View Post
    I haven't been following that situation too closely. That's a sure thing now? No more bailouts? I thought maybe with another bailout there may be a nice uptick.
    Nothing is set in stone but I would expect continued bailouts along with bankruptcy.



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    Re: Question about GM stock

    GM has already said they would not make a $billion bond payment in Jun. They are bankrupt. The Chrysler bankruptcy is ticketed for 60 days for certain assets but it will take two years to clean up their books. GM is even more complicated than that. Expect five years to resolve if they continue to make cars. The demoted dealerships will have several lawsuits against GM soon. GMAC is a mess and will see rising losses..


    Let Prohm's Posse Ride: Georges, Georgios, 3sus, Hallice, Deonte, Abdel, Monte, Matt, and McKaT.

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    Re: Question about GM stock

    Quote Originally Posted by Wesley View Post
    GM has already said they would not make a $billion bond payment in Jun. They are bankrupt. The Chrysler bankruptcy is ticketed for 60 days for certain assets but it will take two years to clean up their books. GM is even more complicated than that. Expect five years to resolve if they continue to make cars. The demoted dealerships will have several lawsuits against GM soon. GMAC is a mess and will see rising losses..
    Bingo.

    Obama Said to Understate Chrysler ‘60-Day’ Bankruptcy Schedule - Bloomberg.com



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