to buy stocks in that company? It sounds like a sure bet to me…..a company that is backed by the taxpayers where if they flounder they will be given even more BILLIONS of our dollars to survive. Its a sure fire deal if you ask me. What do you think?
GM stocks are selling for $0.75 a share. Is now a good time?
Thursday, September 03rd, 2009 / Joe
Category: sell my timeshare
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I have a few thousand shares of GM. Would you like to buy mine at say, $0.65 / share?
They are worthless. They are listed only until bankruptcy, then they’ll be gone.
The new Obomobile Motor company will issue new stocks.
My bonds will be zero as well.
I’m not expert. In fact I’m only 19, but from looking at the MACD GM’s stock is dropping. http://stockcharts.com/c-sc/sc?chart=GM,uuh,awaclyyaypb40!fvc60iue6,12,9!lj$spx
I would not hold onto it if you are. Wait for the line to cross again. The convergence has not made a divergence yet. If you look it keeps dropping. Just keep an eye out for it.
99.25 % risk.
No, they are about to go bankrupt. Current shareholders will be left with nothing. You should spend time educating your self before jumping into the market. The fact that you would ask this questions is scary.
Even if GM doesn’t declare bankruptcy (which is extemely unlikely) the shares are not worth even close to 75 cents right now. The realistic worth of GM stocks is pennies at this moment. When they declare BK they will issue new stock. Even if they honor the old stock, it will be diluted down to less than 10 cents of value. Then there is a chance they wont honor the old stock and they will be worth nothing.
I sold all my GM shares last week at $1.15. I feel sorry for the sucker who thought he was getting a bargain from me. Sometimes you have to know when to lay down your cards, and honestly, this is the wrong time. The right time to lay down the GM stock would have been back in january when they said outright that bankruptcy look inevitable.
I completely understand your thinking. It’s the buy low sell high.
The part that is missing from this analysis is the legal ramification of a bankruptcy. There are a ton of people I have found on Y!A and amateur traders who think that they can profit if they just hold GM stock and ‘someday it will be worth a lot more because it once was.’
Unfortunately this strategy does not work in a bankruptcy.
I know that there are a lot of traders trading the stock, and if you can afford to lose it all, and want to speculate, fine. But if you have the intent to buy and hold GM in its current form, that is a losing proposition.
Fore more detailed answer, please see my latest post for this question:
05-30-2009
"GM bankruptcy; and the GM stock’s?"
http://answers.yahoo.com/question/index;_ylt=AjX9zv5u0tJrp8rt8GIx6._sy6IX;_ylv=3?qid=20090529221509AAJSPrY&show=7#profile-info-AA12122927
Especially read the story from the link above that says:
"See GM Post #32, DTD 05.27.2009
Here I discuss what should happen to GM stock:"
This my view of what I think the stock should do next.
This is GM Post #50
If you want to give your money away, just give it to me, at least I have some use for it.
no way./
I wouldn’t buy at this time in expectation of further drop, but there is some contrarian thinking that says GM may still be worth something. Respected site, but many bloggers refute the author.