GM stock

[mok86]

so i was bored and decided to buy some gm stock just for kicks, anyone else did the same? figured it was the equivalent of going to the slots! lol

[ilusa]

not me

[P1x44r]

Buying GM stock right is an equivalent of playing Russian roulette in my opinion. Only the one where the revolver has 5 bullets in its cylinder instead of just one.

[warren_s12888]

so i was bored and decided to buy some gm stock just for kicks, anyone else did the same? figured it was the equivalent of going to the slots! lol

I think you have better chance at cashing in BIG on slots than GM....

[slavka012]

GM is doomed

[whodaphucru]

GM is doomed

As of Monday the stock will be worthless! Should have donated the money to charity instead!

[boyoflondon]

If you bought it on the 15th when it bottomed out and sold week later, you would have made some coin ..

Now .... I'd rather enjoy watching it go south ....

My money is with them hookers in Vegas :D

[windstorm]

I don't see why you would buy a company that is about to go bankrupt.

A company that HAS is another story. I bought Nortel when it was 9 c per share, so far jumped over 100%, but once they get back on their feet I bet I will make good money.

[zajacik99]

not me. but you can consider yourself lucky.
imagine that you would buy it in 2000 when it was $80+

[Rudee]

so i was bored and decided to buy some gm stock just for kicks, anyone else did the same? figured it was the equivalent of going to the slots! lol

Actually, you will have far better luck with the slots than GM stock.

[help_questions]

so i was bored and decided to buy some gm stock just for kicks, anyone else did the same? figured it was the equivalent of going to the slots! lol

it is the equivalent of flushiing your money down the toilet.

[King of Clones]

What will happen to GM stocks if gov't takes them over?

[belfour]

GM stocks will be worth 0

[evoviii]

What will happen to GM stocks if gov't takes them over?

Depends on the bankruptcy procedures but from looks of it, current shareholders are going to diluted to hell. 100:1 but in terms of stock value it'll be based on what the market think the shares are worth.

Even if they are diluted 100:1, I think the market will value it more than that because bankruptcy removes the uncertainly of what's going to happen.

[tamper]

If you look at the balance sheet they submitted to the court. It shows that liabilities are 90 billion greater than assets. So the creditors can't come close to being made whole. Since shareholders are last on the totem pole they get nothing.

Current Shareholders arent being diluted, they are being thrown into the sinking "Old GM". All the good stuff will be put into a new company whose ownership is

US Government
60%

Canada + Ontario
12.5%

UAW
17.5%

Unsecured Bondholders
10%

Doing the math. That's 100%. "Old GM" will still be responsible for any unsecured debt not subject to the above agreements. That means it might still owe billions and have no assets, having transfered everything of value to "New GM". Old GM stockholders own that company, not the new one. If the court and bond creditors are feeling generous Old shareholders may get an warrant "option" to buy a share of NewGM and get a few cents on the dollar of old stock if the new GM corp is suddenly worth as much as Toyota.

[EugW]

And the stock is up 14 cents today to 89 cents. Wow.
Heh. Somehow I thought it might do that, but I was too chicken to actually buy it (just to hold for a couple of days before selling).

[thelefteyeguy]

And the stock is up 14 cents today to 89 cents. Wow.

me thinks it's day traders making sure that shorter pay a decent price for it today...

make sure you get out soon (like now :cheesygri)


(crazy 4 bagger on the daily)

[mr_raider]

US Government
60%

Canada + Ontario
12.5%


If the US has 10x the population, how come they only have 5x more shares?

[slavka012]

If the US has 10x the population, how come they only have 5x more shares?
Supposedly GM Canada produces 20% of all of the North America's GM's output.

[squid]

Supposedly GM Canada produces 20% of all of the North America's GM's output.

See how Canada gets screwed with Free Trade agreements! We are a 10th of the population, but we have 20% of the production.

We have to do twice the work :(

[AllWheelDrift]

See how Canada gets screwed with Free Trade agreements! We are a 10th of the population, but we have 20% of the production.

We have to do twice the work :(
You're joking, right?

[squid]

You're joking, right?

Did you have to ask?

[AllWheelDrift]

Did you have to ask?
Well, I can't always be sure. Some people seem to have very "different" opinions.

[Shaf]

Now that they have filed for bankruptcy - why is the stock still trading???

Will they re-open with the same name?

Why not buy some at the current price if they will stay the same name (and ticker)?

Just curious...

[CSR]

Needs to be delisted

[brunes]

so i was bored and decided to buy some gm stock just for kicks, anyone else did the same? figured it was the equivalent of going to the slots! lol

As of today, as a Canadian taxpayer you are already the proud owner of two shares :)

[MWM]

Needs to be delisted

It gets booted from the Dow at the end of the week I believe.
It also looks like it gets a fancy new symbol starting tomorrow, GMGMQ :razz:

[max88]

As of today, as a Canadian taxpayer you are already the proud owner of two shares :)

Every Canadian, taxpayer or not, chipped in $311 ($10.5Billion/33.667Million).

[djjosee]

Every Canadian, taxpayer or not, chipped in $311 ($10.5Billion/33.667Million).

As a non-taxpayer how do you chip in $311?

[max88]

As a non-taxpayer how do you chip in $311?

Next welfare cheque gets reduced by $311, next doctor's visit requires a special assessment of $311, next 911 call costs $311, etc.

[masalma]

so for people who still own GM shares, can they still sell now? or their money is gone? because I checked today on google finance and the damn thing went up and down, like it was still trading.

[King of Clones]

How did GM get so much debt so fast? Was it because it built vehicles earlier in the year and could not sell them like other years because of the recession? Mainly gas guzzling vehicles which would not sell because of spike in gas prices last summer and fall?

[brunes]

Every Canadian, taxpayer or not, chipped in $311 ($10.5Billion/33.667Million).

You may have chipped in $311, but you only got 2 shares. 631 million outstanding shares * 0.12 / 33.6 million = 2 and change.

[moebius]

You may have chipped in $311, but you only got 2 shares. 631 million outstanding shares * 0.12 / 33.6 million = 2 and change.

You may have chipped in $311, but you got 0 shares. All those shares are owned by the government, the repayment of debt is highly questionable. It is free money taken from taxpayers. It is communism at work - pay someone from the pocket of another (or their kids). I don't know how long this system can work like that.
Can someone tell me where I can apply for free money from the government, or at least 0% interest payable in 2015. I sure would like to get a few million...