That's what stops all stocks from going down in situations like this. GM is now trading in line with the market which is a start. This will move higher right around the hearings or the day of I believe.
Can I get what you're smoking? Do you live in Colorado? I hope you're right but that's not happening. I would settle for $10+.
Is that finally it? I guess we will see. So much negative spin about the refinance amending how their borrowing rates will jump. Time will tell with that too. Plain and simple demand and pricing must increase to offset Walter's debt problems to help their cash flow. Obama still has near 3 years left so that cannot figure in for a long time. No matter who the next president is their EPA will be nothing like Obama's. Walter needs to make it that far if they do the share price will be higher than $9 you can bet on that.
I'm not sure that can be backed up by facts. The money GM received as a "bailout" is only dwarfed by what the banks, insurers, mortgage industry and other financial institutions received from the Feds during the crisis. I think we can all safely agree that these institutions played a pretty substantial role along with the regulators in almost bringing down the world's financial infrastructure. After these institutions received their "bailout" where did most of the money designated for lending go into treasuries. A bankruptcy probably would have eliminated many union jobs but at the same time the unions were already in the process, during and after the crisis, of giving the industry concessions. One thing that was overlooked was that GM was building the wrong type of vehicles for a few years (larger margin trucks) while the foreign carmakers mostly Japanese had switched to smaller size vehicles and actually did better with their sales during the same time period. You cannot lay that one on the workers. One could say millions of jobs may have been saved as a result of the monies GM received but a what cost per employee. The bankruptcy idea is firmly in the past and all carmakers have recalls since they are building machines it's how they handle the recalls is what matters and GM probably blew this one. It's easy to rewrite history years later Cheney and some of his pals are still doing it to this day but I give Bush credit he has kept a low profile especially in the other 49 states.
Understood just repeating what he said. Either way it will be interesting since the Feds were both simultaneously lawmakers and a large shareholder. I would bet that some of these elected officials were aware of issues with the GM cars during those years. Once again the most important thing here are the families that were affected by the problems. GM should be held accountable and eventually will be. Today's and probably the next few days price action will be weak but as I said earlier it will allow for good entry points going forward. GM lost around $3 billion in cap today whether deserved or not we know markets overshoot so I'll be watching the next few days.
He has been very tepid the last month plus which tells me his hedge fund pals were short into the new year and probably did not cover into the rally from mid February until now. He has been talking down the market for weeks now especially during his AM show. I do give him credit for his harping lately about the froth in the market involving a lot of speculative stocks that have run up crazy especially the fuel cell stocks. He is actually right about the froth if the market takes down these stocks which don't make money it's actually a good thing that humbles traders particularly the momentum guys. Despite his network praising him and his song and dance about helping the little guy I have learned a few things about Cramer over the years....first of all between him and his former trader wife they have more money than they can ever spend and Cramer cares about Cramer his family and his Wall Street and hedge fund pals and that's it. You have to love CNBC around 2000-2001 when the bubble was bursting Cramer would come on the network pump stocks while his hedge fund traders were back at the office shorting those stocks. CNBC actually caught him doing it (I'm sure he was not the only guest doing it) and a few years later they hire him. I guess ratings are all that matter to the network execs and Cramer in their eyes is a lot better than info-mercials selling knives, mops or pillows.
Congressman Burgess (R) from Texas was just interviewed on Fox Business and he stated that the Federal government may actually be somewhat responsible for what happened with GM vehicles since they were shareholders for a period of time during the recall period. This should be good if and when the new CEO who was not the CEO at the time (yet she was there) comes before the politicians she and the other execs will be grilled by fellow cohorts. If the newly elected members of these Federal committee(s) actually bring up the fact that the politicians are possibly just as involved as GM that should get interesting. Now the states who go after GM may do it with a little more gusto than the Feds. This will eventually become a buying opportunity soon if not tomorrow but let us not forget that families lives were ruined here as a result of the lack of action that should have been taken.
Man this guy must have some ego? This network does this guy a big favor each time they bring him on. PLUG is down by over a buck since the show started.
Left coming on now to bash PLUG. He will be right on all these fuel cell stocks that have gotten to ridiculous levels in a short time period. I tried to short BLDP above $8 this morning a few times but could not get the shares. BLDP is at $5.65 right now that would have been an easy trade.
In 2013 they ran BBY up crazy (I trade BBY a lot) and many of us familiar with the stock were scratching our heads as to why it went from $11.20's in Jan 2013 to $44.66 in Nov 2013. The founder Schulze, the CEO Joly were selling in the $40's in late 2013. In early Jan 2014 BBY reported very weak holiday numbers and the stock went from $37-$38 to eventually just above $22 a few weeks ago. Just follow the insiders in most cases and you will see what direction their company's shares are heading.
That's what these guy figured too that's why they were selling even in the $7's after seeing the $9's they must have believed it was heading back to almost where it came from.
If that list is true they were sitting in front of the screen dumping figuring the share price would go back near where it came from. What's more amazing is that they saw Thursday's price action the close and the after hours and on Friday when they saw the price falling they most likely ran in front of their screens and traded out of their own accounts like panicked children.....WOW!
Now I feel much better.... although I still shorted the mid $8's to $9 and over $9 in the AH last night (9 trades total). What you quoted was the fuel for another classic Wall Street pump and dump. Mania set in for a few hours Thursday and when CNBC mentioned the move on Thursday afternoon PXLW was in the $7.70's and that was more fuel for the fire. That's when I put it on my screen and waited some shorts were a bit too soon yesterday but not for today. The numbers in the statement did not add up to an 87% move and a 100% in the AH. I posted last nigh that this rally would fade either late in the pre-market or after the open. To be honest I did not think it would close under $7 but the numbers stated do not even justify even a $6.85 close unless some other name signs on like AAPL did.
Cramer has been negative on the AM show for weeks now yet the markets have crept higher in the face of mixed data and the Ukraine and he continues to seem a bit more downbeat on things. Now I will concede that he may believe we are nearing the Dow high, making new S&P highs and near 14 year highs on the Nazdaq so use caution but those levels never stopped him in the past from pumping. I firmly believe that he mentions certain stocks for either the benefit of his charity or for the benefit of his hedge fund pals who he has never severed ties with. I believe a lot of these funds were short early in the year and stayed short and now are on the wrong side of those trades. Cramer is Cramer we all know he exists to saturate the airwaves and to stoke his ego. Go look up his net worth so (his wife was also a trader like him in the past) and understand he does not do it for the money.
I did add some twice around $9.25+$9.50 in addition to the regular session mid to upper $8's. Tell you the truth I never expected it to close below $7 but it does not surprise me since I have seen this before numerous times. All the pumpers late Thursday forgot to realize that this was only 10% of their revenue and buyers bought the analyst's (who upgraded it to $10) speculative pump that QCOM and many others would soon follow or even that there would be a buyout. Posters here were telling you to read the 8-K creating formulas on how PXLW revenue would jump into the billions. They were either pumping or dillusional but they did get a strong dose of reality of what the market can do to your gains by 4pm. I think this bottoms near $6 to $6.25 Monday and may bounce from there. Then again it could close under $6 and not surprise me.