Who is buying GM stock??

Discussion in 'Stock Market' started by DavidS, Mar 9, 2009.

  1. DavidS
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    DavidS Anti-Tea Party Member

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    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.
     
  2. toomuchtime_
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    toomuchtime_ Gold Member

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    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.
     
  3. midcan5
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    midcan5 liberal / progressive

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    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.
     
  4. Zoomie1980
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    Zoomie1980 Senior Member

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    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.....
     
  5. DanK
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    DanK Administrator Staff Member

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    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.
     
  6. Munin
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    Munin VIP Member

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    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.
     
  7. jenovoa
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    jenovoa Rookie

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    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?
     
  8. manu1959
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    manu1959 Left Coast Isolationist

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    heard on the news today that gm management dumpped all their options....
     
  9. DavidS
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    DavidS Anti-Tea Party Member

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    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.
     
  10. Terral
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    Terral Terral Corp CEO

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    Hi Jenovoa:

    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 ‘and’ we are still looking at 10,000 foreclosures every damned day ‘and’ climbing. The Obama is driving this U.S. Economy like a stolen car on a Saturday night ‘and’ 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.

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

    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 ‘what goes down MUST go up,’ 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) ‘and’ they will not run back into stocks until ‘after’ 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
     
    Last edited: May 13, 2009

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