Seen the Price of GM stock?
05-29-2009, 09:00 PM
#4
Le Mans Master
Do a search on the same subject a few weeks ago when GM was around $5.00 a share and several folks thought it was the right time to buy.
Reflect on what was said at the time . . . .
Reflect on what was said at the time . . . .
05-29-2009, 09:22 PM
#6
True, but depending on the exit plan, more often then not the previously held stock (stock bought prior to Chapter 11) will be worthless. New stock will be issued (sold).
05-29-2009, 09:39 PM
#7
Race Director
The 2-year view reminds me of the Pyroclastic Flow from a volcano....
Today's view entered uncharted territory, bottoming at 74¢ and closing at 75¢,
both new lows. Unthinkable only a few months ago......
Today's view entered uncharted territory, bottoming at 74¢ and closing at 75¢,
both new lows. Unthinkable only a few months ago......
05-29-2009, 09:44 PM
#8
Drifting
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Too bad we all weren't aware of last night's union vote. I had been planning to buy G.M. stock upon its reorganization but with this new vote I wonder if G.M. will skirt bankruptcy?
05-30-2009, 11:25 AM
#10
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05-30-2009, 11:54 AM
#11
Burning Brakes
GM has remained higher than I would have suspected for some time. Usually as things this get this bad the stock lingers in the .25 range before bankrupsy.
I suspect "gamblers" I can't use the word "investor" any longer, feel there will be some last minute repreave. After bankrupsy is filed many times the stock will bounce sometimes as much as 200%, with the strange belief the stockholders will get something. But this is when the stock is selling for pennies. Not at todays GM price.
I will repeat a hard lesson I have learned. It doesnt matter whether you bought GM at 98 dollars or 98 cents. When a company goes bankrupt you loose the same. Both investors loose everything.
GM is also a good case for not "averaging down".
I suspect "gamblers" I can't use the word "investor" any longer, feel there will be some last minute repreave. After bankrupsy is filed many times the stock will bounce sometimes as much as 200%, with the strange belief the stockholders will get something. But this is when the stock is selling for pennies. Not at todays GM price.
I will repeat a hard lesson I have learned. It doesnt matter whether you bought GM at 98 dollars or 98 cents. When a company goes bankrupt you loose the same. Both investors loose everything.
GM is also a good case for not "averaging down".
Last edited by philip964; 05-30-2009 at 11:57 AM.
05-30-2009, 12:32 PM
#12
Drifting
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Not to say it will not continue to be a good investment but it takes a lot less movement at the bottom for a big percentage gain than a move later.
05-30-2009, 01:57 PM
#13
Melting Slicks
The stock is worthless. SEC should have stop trading of it even before details of how the Bankruptcy and reorganization were to be handled.
If GM's assets are being sold off to new GM company with US Government, Unions as the two major stockholders and GM current Bond Holders at best minor stockholders and they were GM Senior Debt holders, why would you think holders of GM common stock would even get a penny in return. They are wiped out.
GM execs have been selling off their stock for weeks to fools willing to buy it as they sure the hell know with their INSIDER knowledge to dump it.
If you want it for wall paper, make sure you understand what you have to do to get a share of stock in your hand.
The only stock I own that I have a share I can hold in my hand are keep in a safety deposit box isn't even per share. It's one piece of paper with number on shares on it that I own on it. Can't cover much of a wall with it and it's close to being a wall decoration too
...LOL
If GM's assets are being sold off to new GM company with US Government, Unions as the two major stockholders and GM current Bond Holders at best minor stockholders and they were GM Senior Debt holders, why would you think holders of GM common stock would even get a penny in return. They are wiped out.
GM execs have been selling off their stock for weeks to fools willing to buy it as they sure the hell know with their INSIDER knowledge to dump it.
If you want it for wall paper, make sure you understand what you have to do to get a share of stock in your hand.
The only stock I own that I have a share I can hold in my hand are keep in a safety deposit box isn't even per share. It's one piece of paper with number on shares on it that I own on it. Can't cover much of a wall with it and it's close to being a wall decoration too
...LOL
05-30-2009, 02:24 PM
#14
Race Director
Stock will be essentially worthless as soon as GM files for Chapt 11. The plan for the "new" GM will be to issue 100 times the existing shares and then doing a 100 to 1 revrse stock swap. That would mean any existing shares @ $.75 would be worth only $.0075, less than a penny a share. It's also said that the stock will not trade for about three years.
If you think the UAW really gave in to anything, I suggest you read the agreement. The only thing given up were ridiculous benefits and perks that no other company ever gave to a union.
http://www.uawlocal160.org/images/20...Layout%201.pdf
What is left of GM management are simply puppets for the gov't and UAW. No doubt another $100 billion of taxpayers money will be wasted on GM before someone finally says that's enough.
If you think the UAW really gave in to anything, I suggest you read the agreement. The only thing given up were ridiculous benefits and perks that no other company ever gave to a union.
http://www.uawlocal160.org/images/20...Layout%201.pdf
What is left of GM management are simply puppets for the gov't and UAW. No doubt another $100 billion of taxpayers money will be wasted on GM before someone finally says that's enough.
05-30-2009, 05:13 PM
#15
Race Director
If we had cheap gas as was illustrated 6 weeks ago the problem could have worked itself out. Fuel has killed the economy not once bet several times and it should have been a signal to the so called smart people You may not agree with Bush on some of his projects but his statement "drill for oil" last summer actually turned the economy to the positive side. All the "O" needed to do is follow Bush`s lead. but no, hes a tree hugging greener. Instead what we get is more taxes. And now in the wind is a 25% add valorem Federal sales tax to pay for his medical promise issues. Those that dont pay now will still not pay.Anyone that voted that sucker in should be exported....
05-30-2009, 05:46 PM
#16
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If we had cheap gas as was illustrated 6 weeks ago the problem could have worked itself out. Fuel has killed the economy not once bet several times and it should have been a signal to the so called smart people You may not agree with Bush on some of his projects but his statement "drill for oil" last summer actually turned the economy to the positive side. All the "O" needed to do is follow Bush`s lead. but no, hes a tree hugging greener. Instead what we get is more taxes. And now in the wind is a 25% add valorem Federal sales tax to pay for his medical promise issues. Those that dont pay now will still not pay.Anyone that voted that sucker in should be exported....
sorry man, but with all do respect, you have no clue what you're talking about and you're one of those folks who wants to blame the problem on one man, or political party when it is a problem created by our society. Both the republican and democratic parties are equally inept, but this isn't on our politicians, unless you believe in more government control and regulation, which I'll bet you don't. Not sure if you were paying attention, but this economy crashed before O took office. This isn't even on Bush. This is 100% on the banking industry and people / businesses who took loans they had no business financing. If the dow were still around 14,000 and people were doubling their home values every 12-18 months, no one would give a damn if the price of gas had doubled.
Last edited by BMS; 05-30-2009 at 05:51 PM.
05-30-2009, 06:46 PM
#17
Le Mans Master
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Mike, Unless I am misreading the news story, it appears that an agreement to put a freeze on benefits and assume partial ownership in the company by the rank and file has taken place. IMO, this may mean a vested interest by the workers to trim and manage time and skills more effectively and efficiently (perhaps, getting mangement to look at effective design, marketing,internal redundancy and compensation plans). It is also my opinion that it means bankruptcy is being held at bay. Prior to this event, I had taken the position that the time to buy G.M. would be post bankruptcy and restructure with a new management team and union concessions. Well, if G.M. is already in that mode and the price of stock closed at .75 Friday then ...........???? vs. a probable upward shift Monday. Just my opinion though.
Not to say it will not continue to be a good investment but it takes a lot less movement at the bottom for a big percentage gain than a move later.
Not to say it will not continue to be a good investment but it takes a lot less movement at the bottom for a big percentage gain than a move later.
05-30-2009, 06:50 PM
#18
Le Mans Master
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The stock is worthless. SEC should have stop trading of it even before details of how the Bankruptcy and reorganization were to be handled.
The short sellers need something so they can close their positions.
Last edited by Dan Hampton; 05-30-2009 at 06:53 PM.
