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

[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.