# Who is buying GM stock??



## DavidS

Bankruptcy is all but certain and the shareholders are going to be wiped out and GM is up 10 cents or 7% right now. Who the hell is buying this crap?? Buy Ford, they don't need one dime of our money and their cars have received extremely positive reviews lately. For the life of me, I think there are more "boiler room" scammers out there who are in this to make a quick buck and then completely devalue a stock when the time is right than there are honest traders.


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## toomuchtime_

DavidS said:


> Bankruptcy is all but certain and the shareholders are going to be wiped out and GM is up 10 cents or 7% right now. Who the hell is buying this crap?? Buy Ford, they don't need one dime of our money and their cars have received extremely positive reviews lately. For the life of me, I think there are more "boiler room" scammers out there who are in this to make a quick buck and then completely devalue a stock when the time is right than there are honest traders.



If bankruptcy leads to restructuring of debt and union contracts rather than to liquidation, it will actually protect shareholders.  Union support is critical to Democrat politicians so I doubt this administration will allow GM to fail and cost all those union jobs or will want to leave it up to a bankruptcy court to decide how the union contracts will be restructured.


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## midcan5

I wonder if much of GM trouble is unions as workers at foreign car makers here make similar wages. GM's biggest issue is their corporate responsibility to retired workers health and well being. A second issue is Americans don't seem to like American cars today? As a society we seem to have moved too far away from considering that our neighbors are the ones we are supporting when we buy America. Full disclosure we just bought another GM car. PS My wife bought some of their stock a few months back.


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## Zoomie1980

toomuchtime_ said:


> DavidS said:
> 
> 
> 
> Bankruptcy is all but certain and the shareholders are going to be wiped out and GM is up 10 cents or 7% right now. Who the hell is buying this crap?? Buy Ford, they don't need one dime of our money and their cars have received extremely positive reviews lately. For the life of me, I think there are more "boiler room" scammers out there who are in this to make a quick buck and then completely devalue a stock when the time is right than there are honest traders.
> 
> 
> 
> 
> If bankruptcy leads to restructuring of debt and union contracts rather than to liquidation, it will actually protect shareholders.  Union support is critical to Democrat politicians so I doubt this administration will allow GM to fail and cost all those union jobs or will want to leave it up to a bankruptcy court to decide how the union contracts will be restructured.
Click to expand...


It's the legacy labor costs, not current labor, that is killing GM.  Retiree costs have completely bankrupted the company and it cannot ever turn the corner and retain those costs.  I'd hate to be a GM retiree these days, depending on a GM pension to maintain a life-style.  If you are one of those, best get ready to get a small apartment and get rid of your car.....


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## usmbtech

Don't you think Toyota would be a better buy right now?  Not facing any of the problems, good dividend, and the stock price has been beaten down as well.


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## Munin

DanK said:


> Don't you think Toyota would be a better buy right now?  Not facing any of the problems, good dividend, and the stock price has been beaten down as well.



What about Ford? 

Low share, enough money to last till the end of this year and if it is true we might be recovering by next year.


A downside of Toyota: the Yen is pretty high right now.


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## jenovoa

DavidS said:


> Bankruptcy is all but certain and the shareholders are going to be wiped out and GM is up 10 cents or 7% right now. Who the hell is buying this crap?? Buy Ford, they don't need one dime of our money and their cars have received extremely positive reviews lately. For the life of me, I think there are more "boiler room" scammers out there who are in this to make a quick buck and then completely devalue a stock when the time is right than there are honest traders.



Sorry I¨m new either in blogs that in stock market. I have a question about GM Bankrupt.
Today GM shares drop about 20% on value. All news are talking about short life of GM. Worst quotation in whole history. GM will dissapear from the earth. Today`s operation volume was aprox. 100,464,354. 
Now the question is. Considering all this catastrofic situation for GM, everyone shuld be getting off their GM stock as soon as possible, but on the other hand somebody is buying all this shares. Are this people so innocent or are we?. 

I would understand if there is a big offer to sell and no or very poor offer to buy. This should mean tha everyone is trying to get off the boat before it sunk, but who may be interested in swithching seats with someone in the boat?. Doesn´t it smell strange.
If you check on finance.yahoo.com or bats.com you´ll see that there are people biding for purchase GM stock. Why?. What do they know that I don´t. I refuse to think that there is someone more silly than me!.

Please. If someone is buying GM stocks please explain me why?


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## manu1959

heard on the news today that gm management dumpped all their options....


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## DavidS

jenovoa said:


> DavidS said:
> 
> 
> 
> Bankruptcy is all but certain and the shareholders are going to be wiped out and GM is up 10 cents or 7% right now. Who the hell is buying this crap?? Buy Ford, they don't need one dime of our money and their cars have received extremely positive reviews lately. For the life of me, I think there are more "boiler room" scammers out there who are in this to make a quick buck and then completely devalue a stock when the time is right than there are honest traders.
> 
> 
> 
> 
> Sorry I¨m new either in blogs that in stock market. I have a question about GM Bankrupt.
> Today GM shares drop about 20% on value. All news are talking about short life of GM. Worst quotation in whole history. GM will dissapear from the earth. Today`s operation volume was aprox. 100,464,354.
> Now the question is. Considering all this catastrofic situation for GM, everyone shuld be getting off their GM stock as soon as possible, but on the other hand somebody is buying all this shares. Are this people so innocent or are we?.
> 
> I would understand if there is a big offer to sell and no or very poor offer to buy. This should mean tha everyone is trying to get off the boat before it sunk, but who may be interested in swithching seats with someone in the boat?. Doesn´t it smell strange.
> If you check on finance.yahoo.com or bats.com you´ll see that there are people biding for purchase GM stock. Why?. What do they know that I don´t. I refuse to think that there is someone more silly than me!.
> 
> Please. If someone is buying GM stocks please explain me why?
Click to expand...


Well, after bankruptcy, there is going to some kind of GM stock left. What kind I have no idea - but something will be left and the company will go on to restructure. The stock is about to go below $1 - so maybe there will be some buying today.


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## Terral

Hi Jenovoa:



jenovoa said:


> Sorry I¨m new either in blogs that in stock market. I have a question about GM Bankrupt.
> 
> Today GM shares drop about 20% on value. All news are talking about short life of GM. Worst quotation in whole history. GM will disappear from the earth. Today`s operation volume was aprox. 100,464,354.
> 
> Now the question is. Considering all this catastrophic situation for GM, everyone should be getting off their GM stock as soon as possible, but on the other hand somebody is buying all this shares. Are this people so innocent or are we?



Everyone should be dumping 'all' automaker stock, because the fundamentals of the U.S. Economy are BROKEN. The crashing automakers are a 'symptom' of the real problems that nobody is addressing with all of this bailout stupidity. The problems have nothing to do with the automakers themselves, but everything to do with the imploding Consumer Base (Demand Destruction = story); which means fewer and fewer 'customers' for buying new and even used cars. This is what happens when you allow *record "Outsourcing" of JOBS* (Killing our Economy) and too many Guest Worker Programs (23) that drag 1.5 Million Foreign Nationals (story) into this country every year to 'displace' U.S. Workers from JOBS. Then you allow 20 to 30 Million Illegal Alien Foreign Nationals to run around loose EVERYWHERE, also *'displacing' U.S. Workers from JOBS*, 'and' you wonder why GM cannot sell their quota of new cars and trucks to a shrinking 'American' Consumer Base . . .  

Illegal Alien Foreign Nationals have driven down the wages of masons in my area from 24 dollars per hour (four years ago) to 18 dollars per hour 'and' that is if you can find somebody hiring. Displaced U.S. workers means a shrinking 'tax base,' which means the states (like Florida) with the highest concentration of Illegal Aliens are suffering under *massive budget deficits* (story), because that is exactly what they deserve for allowing 'lawlessness' to run rampant upon the land. Unscrupulous contractors are hiring as many Illegal Aliens as humanly possible and dumping their expensive American workers, because nobody is enforcing the Rule Of Law, and there goes your consumers down Foreclosure Avenue by way of Bankruptcy Street for a life in Tent City. 

Unemployment is still hovering around 600,000 people every month &#8216;and&#8217; we are still looking at 10,000 foreclosures every damned day &#8216;and&#8217; climbing. The Obama is driving this U.S. Economy like a stolen car on a Saturday night &#8216;and&#8217; anyone buying automaker stock is not even paying attention to the Imploding Consumer Base. These Loyal Bushie/Obama LIARS on the TV are talking up the markets, which means DUPES stand in line to buy GM stock that is worth less than nothing; because the creditors and everybody else will get paid LONG before any of you holding their 1-dollar stock. 



jenovoa said:


> I would understand if there is a big offer to sell and no or very poor offer to buy. This should mean that everyone is trying to get off the boat before it sunk, but who may be interested in switching seats with someone in the boat?


 
  Suckers! GM Execs are dumping their stock for a good reason (story).  



jenovoa said:


> Doesn´t it smell strange.  If you check on finance.yahoo.com or bats.com you´ll see that there are people biding for purchase GM stock. Why?. What do they know that I don´t. I refuse to think that there is someone more silly than me!
> 
> Please. If someone is buying GM stocks please explain me why?


 
  Some people refuse to believe that the U.S./Global Economies are being systematically DESTROYED very much on purpose (my thread). They think we are in a regular economic cycle where &#8216;what goes down MUST go up,&#8217; so they are trying to buy low (suckers) and sell high at some point down the road. The smart money sold their stock at DOW 14,164.53 (Oct. 2007) &#8216;and&#8217; they will not run back into stocks until &#8216;after&#8217; the coming Economic Implosion. The day traders tossing money into the markets right now are *lemmings running headlong over a cliff *(pic) about to commit financial suicide . . . 

  The market is giving up ground right now, because reality is setting in that the Govt is doing far more harm than good. The U.S. Economy is gradually IMPLODING and nothing that anybody does now can stop it . . . Watch and see . . . 

[ame]http://www.youtube.com/watch?v=9nJ7LM3iyNg[/ame]

[ame]http://www.youtube.com/watch?v=NmTBnhOXufg&feature=channel[/ame]

  GL,

  Terral


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## DavidS

As I predicted, once GM hit $1, people will scoop it up and right now it's up 11 cents.

GM: Summary for GEN MOTORS - Yahoo! Finance


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## xotoxi

I purchased one share yesterday.


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## DavidS

GM is now at 88 cents after going as high as $2.25 earlier this week and as bankruptcy nears and is all but certain. If anyone bought stock at $1 and sold it at $2.25, they made some money - but if they haven't sold it in time, they better sell it now.


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## 52ndStreet

I bought some shares. It can only go back up eventually.What a bargan.!


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## Jon

I've considered buying a hundred shares. IF they do somehow recover, I could make a fortune off it. If they don't, I'm out $100. Big deal.


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## DavidS

52ndStreet said:


> I bought some shares. It can only go back up eventually.What a bargan.!



Won't bankruptcy wipe out their stock?


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## wimpy77

the stock is worthless


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## dilloduck

wimpy77 said:


> the stock is worthless



Oh cmon chicken-----buy low sell high


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## wimpy77

dilloduck said:


> wimpy77 said:
> 
> 
> 
> the stock is worthless
> 
> 
> 
> 
> Oh cmon chicken-----buy low sell high
Click to expand...


lol


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## DavidS

According to CNN - GM is going to be de-listed from the NYSE and DJIA and its stock will be worthless. The stock itself won't be traded for at least two years after its emergence from bankruptcy and trading will be halted sometime tomorrow - if it trades at all. 

Meanwhile, shares of Ford rose 3.5% on Friday to close at $5.75 and Chrysler isn't even publicly traded.


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## wimpy77

you file for bankruptcy you stock gets pulled, i think there's a 18 month wait before you can relist it again after a company emerges from bankruptcy. paulie or toro could tell you for sure. obtw the judge in the chrysler case has ok'd the sell to fiat.


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## Paulie

wimpy77 said:


> you file for bankruptcy you stock gets pulled, i think there's a 18 month wait before you can relist it again after a company emerges from bankruptcy. paulie or toro could tell you for sure. obtw the judge in the chrysler case has ok'd the sell to fiat.



I actually don't know the specifics about listing.  If I had to guess, I would think they could probably keep their stock listed and trading by going to OTC or Pink Sheets if they REALLY wanted to, but I could be wrong.  The waiting period after bankruptcy might be a DJ and NYSE rule, but not necessarily the same rule on OTC.

I'd have to look it up, and frankly it's not really that important to me.  I'm just glad they're at least doing the bankruptcy.  They should have done it MONTHS ago before they wasted billions of our tax dollars on something so obviously frivolous.


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## NOBama

Corporate Bankruptcy

This article does not mention the time line and I'm not sure what it is. Like Paulie, that would require to much research for me because I don't have a vested interest.


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## Paulie

What's crazy, is that one could have potentially flipped GM today for a 100% gain. 

.50 at open, and around 1.00 high before closing around .70.

If I'd have been home today, I probably would have.  Oh well.


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## tigerbob

DavidS said:


> Bankruptcy is all but certain and the shareholders are going to be wiped out and GM is up 10 cents or 7% right now. Who the hell is buying this crap?? Buy Ford, they don't need one dime of our money and their cars have received extremely positive reviews lately. For the life of me, I think there are more "boiler room" scammers out there who are in this to make a quick buck and then completely devalue a stock when the time is right than there are honest traders.



Investments - sometimes you have to laugh at the irony.

On the negative side....

We decided to go with GM instead of Ford in October - how we're kicking ourselves.  We only bought about $500 of GM (wanting to support Michigan, etc.), but yesterday's news wiped that out.  Investing in Ford would have seen $500 become about $2000.  Ah well.

We dumped Siemens and RMM in February, and now both are up about 20%.  Another $2k missed.  Bummer.

And of course living in Michigan probably means our house value has dropped like a stone.

However.....

Glad we held onto Apple, and wish we'd bought more.  Only just over 50 shares, but it's up 60% in the 6 months we've held it so that offsets pretty much all of the losses on GM, RMM and Siemens.  It's still rated a buy.

The GM news has meant that our municipals have backed off a bit, but that's a very long term thing and we're still up about 7% since jumping in.

On the other hand, some clouds have a silver lining.  The announcement of GM's Ch. 11 took the shackles off the market and we made 5% on our mutuals yesterday alone.

Overall in the last 6 months we were 10% down in January, and we're 10% up now.  But the housing market probably cancels that out, and maybe more.

The more you think you have learnt about investing, the more you realize you know very little.


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