WAY up in pre-market!
Should be interesting today. The shorts are collectively committing suicide (boo hoo) and bashers are crawling back into the holes that they belong!
It was an impressive showing for General Motors (NYSE: GM ) : GM was the big winner in the latest JD Power Initial Quality Survey, taking eight segment awards and placing all four of its brands in the top half of the field.
This says that GM is going to purchase the 'Fed's Shares'.
It doesn't say anything about buying 'Your' shares on the open market!!!
GM's 'Market Cap' is 2X what its 'Enterprise' valve is: Exactly the opposite of TM & Ford.
This stock should be at $13.00.
The only thing that has kept it propped up is the Fed's ownership.
The bloodsucking union with it's unfunded pension is still a big drag on the company.
GM will purchase 200M of the Fed's shares
What this really says is : GM has "Pledged" to purchase 200m of the Fed's Shares.
Until it actually happens, don't hold your breath!
I've seen other companies do the same thing and guess what it never completely happens.
I'm betting GM backs out of this before it's finalized.
They are fricking BROKE... If they had enough cash laying around they should be investing it in developing products that will stop the market share slide they are engaged in.
Even Apple isn't buying their shares back today.
#$%$. Is it any wonder they went bankrupt and will again?
They got free money...USE IT. Unless the government demands you buy your shares back, why would you? What does 200 million shares do for GM? Other than deplete their cash?
GM is not in investment business They are supposed to be building cars and trucks. Got it?
"WAY up in pre-market!"
You should have sold it in pre-market! LOL..
You guys are not wired to learn or to smarten up. That is why you will remain living paycheck to paycheck stuck in places like Detroit and Flint the rest of your lives.
You just don't have the capacity or the faculties to process what is right in front of you. You think cheerleading or exchanging a few messages with jeyes of the world is going to make you prosperous.
Good luc with that strategy. You maybe able to move to Warren one of these days with your winnings.
"shorts are collectively committing suicide (boo hoo) and...."
Not all shorts. This short does NOT hold anything overnight, just for these sort of unexpected surprises.
I am absolutely happy, tickled pink and wealthier being a SHORT on GM up until now while you sat on your butt hoping for miracles.
As soon as things settle down, there will be a golden opportunity to make a killing on GM stock all over again. SHORTING of course.
So Marllen, if you horld nothing overnight, just how much have you rost since the stock has steadrly gone up from the $19 range.
Didn't someone post something about how your math doesn't work.
Yes sir the Garllup porll about car sarelsmen ranking rast on honesty and ethics has just been PROVEN by you!
Be sure to tell us exactly when you'll be shorting so we may all be impressed with your investing acumen.
Oh, on second thought, maybe you'd better not. Didn't work out so well last time, did it?
This coming from the same guy bashing TM stock. Should you really be making fun of anyone bashing GM while you bash TM and all it does is keep going up?
Your credibility is on record. And it stinks.
I also expect a sharp, news-driven rally today. The market likes the removal of uncertainty.
However, not many will do their DD on the stock before buying it. Even though the shares will actually become less valuable on paper due to the removal of cash from the books, they will go up.
Sentiment: Strong Sell
"Even though the shares will actually become less valuable on paper due to the removal of cash from the books, they will go up."
Really, Web? Do you really not know any better than this? The company will own the shares at $27.50. The only way they become "less valuable on paper" is if they go down below $27.50.
Surely you MUST know this!
Awe come on Webbie...you have bashed GM for years because of govt ownership. Now that there is an orderly exit (not the massive dump as you kept warning us about), all you have to say is folks wont do their DD? Well...the uncertainty is clearing, there is going to be a 4 fold increase in the global number of cars in the next 17 years, GM is firmly rooted in the market where a huge chunk of that growth will occur...if you are looking for a 10 year investment...GM is a no brainer. There is your DD.