Is NYSE going to delist it now?
Wait for it to go to 25 cents
75 cents is way too high. But I wouldn’t invest a single penny lest it helps the UAW.
Go ahead, invest 75 cents if you won’t be unhappy to lose all of it. If you go to the track you’ll have a better chance of winning, though, and you will get out of the house into the sun.
It was a buck and a quarter the day before....The news was out...People weren’t buying......BUY GOODS!!!!
I think it would be much wiser to invest the $500 on a lottery ticket.
Treat it like Vegas - if you can afford to lose it, go ahead.
You would be better off buying a Pontiac. And that ain’t saying much.
You may as well hold up five $100 bills and light 'em on fire. The fact is you'd be a fool to buy GM stock. When GM enters bankruptcy, the stockholders are unsecured debt holders and are the first wiped out in favor of secure debt holders (ie: bond holders.)
Translation: once GM enters bankruptcy next week, any GM stock you own will be WORTHLESS. Zero. Zilch. Zip. Nada. You'll have nothing but worthless paper.
Wait to see what comes out of the bankruptcy court.
Just donate it to UAW. That’s who’s going to end up with it.
If you want to give money away expecting no return, give it to me.
If it goes up to $2, you’ll be classified as a kulak and enemy of the state and purged.
The way I understand it, in bankruptcy they will issue additional shares further diluting your holding. The reverse split maybe as much a 1,000 to 1, that is your share will be worth 1/1,000 of what it was. But, it’s not certain the bankruptcy judge will even allow that. He might wipe out all unsecured creditors, meaning all stockholders pre-bankruptcy get nothing...that’s my understanding.
In the case of most bankruptcies, the stockholders do not recieve any enterprise value of the company. Creditor’s must be made whole before any payments are made to equity holders. In short, current GM stock holders will have their stock cancelled. (The ownership interest that the stock once represented will cease to exist.)
Alright..... Check out the preferred HGM and other similar issues.
HGM rose 36% late this week
Time cost of money and other opportunities to short other stocks determines whether they keep their original short position going.
For example, if I short a stock at 5.00 and it goes to 0.75 does it really make sense to wait for 0.00? Or do you just take your profit and go on.
The only way this equity is saved is if the Chrysler bankruptcy filing is overturned by an appeal court, with the judge slapping down the Obama admin for overreaching by abrogating contract law. In that scenario the current Obama proposal for GM might be abandoned for something that is more friendly to GM shareholders.
But that is quite a long shot.
In all likelihood the GM stock is now worthless.
Thanks, but no thanks!
My question all along is who is going to buy a car from Gummint Motors when they start rolling off the line?
They might sell some fleet vehicles to the US Govt, but are citizens really going to go for this? I see GM getting the treatment from citizens that Smith & Wesson did when they sold their soul to the Clintons.
Besides, with quality brands like Ford, Honda and Toyota available, who would be so dumb as to buy GM?
In the end, it would be healthier for all if this totally burned the unions and the administration and everyone learns a valuable lesson. But then, socialists aren’t able to learn.