GM stock?

targa911S · 10-28-2008, 04:07 PM

It's SO cheap...would you buy?

Zef · Zef's Garage

Nop

widgeon13 · 10-28-2008, 04:22 PM

I wouldn't, find something that actually might make it. Lots of good cheap buys out there today but I don't think GM is one of them. IMO

targa911S · 10-28-2008, 04:50 PM

At $6.00 a share you don't think it will recover? Short of going belly up, where else could it go? Would the govt. really let them do that? They employ a LOT of people in this country.

widgeon13 · 10-28-2008, 04:59 PM

It can go down further and stay down for a relatively long time. I wouldn't spend my money on GM stock.

targa911S · 10-28-2008, 05:38 PM

advice well taken.

Jim Richards · 10-28-2008, 06:27 PM

What's the P/E when P = $6.25/sh and E = ($27.33)/sh?

RWebb · RWebb's Garage

i can invent a "forward" p/e for you that is whatever number you want.

contact me at

Bare Sterns
666 Ripoff Lane

Racerbvd · Racerbvd's Garage

I too have been thinking about this, I figured I might spend what I spend on a weekend drinking (stock is close to drink cost) and just sit. I figure that I would spend it anyway, so, at the very worst, I end up with wall paper

best, in 10 or 15 years it goes back to the 99 values or more.

targa911S · 10-28-2008, 07:30 PM

That's what I was thinking. It's stupid cheap and I can wait. For a grand I could get a bunch of paper and just wait, I got time.

pwd72s · 10-28-2008, 07:34 PM

People have made worse gambles...and gambols.

competentone · 10-28-2008, 10:47 PM

Quote:

Originally Posted by targa911S

It's SO cheap...would you buy?

The common is cheap for a good reason.

GM will still exist as a company, but the shareholders will be wiped out during the coming bankruptcy.

KFC911 · 10-29-2008, 02:21 AM

No.

widgeon13 · 10-29-2008, 03:04 AM

It's not worth buying, high cost, unionized, poorly run company w/ bad products. That is enough to discourage me!

HardDrive · 10-29-2008, 07:47 AM

There is a very real risk a bankruptcy here.

MikeSid · 10-29-2008, 08:44 AM

Take a look at what happened to shareholders of Kaiser Aluminum when it was in bankruptcy a couple of years ago. Yes the company still exists, just like GM will. But shareholders of record prior to the bankruptcy got nothing for their shares. GM is heading in exactly the same direction.

Big Ed · 10-29-2008, 08:52 AM

Quote:

Originally Posted by MikeSid

Take a look at what happened to shareholders of Kaiser Aluminum when it was in bankruptcy a couple of years ago. Yes the company still exists, just like GM will. But shareholders of record prior to the bankruptcy got nothing for their shares. GM is heading in exactly the same direction.

That's what I'd bet on, GM survives but the common stock becomes worthless in BK.

KFC911 · 10-29-2008, 12:30 PM

Quote:

Originally Posted by Wayne at Pelican Parts

I bought a little bit the other day at 5.25. It certainly is a gamble. 20% yield on that dividend (for now) is very tempting....

Why that was my logic when I bought some a couple of years ago (I think it was that time frame), when it had plummeted down to $20 and the dividend was at 10%. It had a very nice runup (30+), but then they slashed the dividend and I sold for a nice profit (one of my few short term plays). It's definately a gamble at this point, both the dividend and the potential to be left holding the bag as a shareholder imo. Good luck to all! ...Hmmm that Wayne's a pretty smart fellow

the · 10-29-2008, 12:41 PM

you can make money on GM, but IMO you have to be "day trading" it. It's not a buy and hold by any means. With the current volitility, it likely will go up and down. If it does go up to a point where you have a nice profit, I'd not get greedy, and take the money.

KFC911 · 10-29-2008, 12:48 PM

Quote:

Originally Posted by KC911

No.

Thanks THE for the reality check! I don't day trade...