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jcal87
08-03-2009, 07:10 PM
I'm seriously considering buying some shares at 53 cents what do you guys think?
RECOVERY ROOM
08-03-2009, 07:15 PM
I'm seriously considering buying some shares at 53 cents what do you guys think?

Do it..,It will go up...how much, who knows?.If it moves over a dollar then you double what ever you put in. I bought FORD at 1.50 and it closed today over 8.00 a share.Something to think about
ItDoRun
08-03-2009, 07:42 PM
At $.53/share, I may do the same. I had no idea it was that low.
redfire69
08-04-2009, 08:38 AM
That's the "new GM", so why not.
James OLC
08-04-2009, 09:19 AM
That's the "new GM", so why not.

I am not sure that is correct (well, I am pretty sure that it is entirely incorrect). My understanding is that the "new GM" is still technically private (and will be so for the next year) and that the stock that is on the market now (GMGMQ now MTLQQ.PK) is Motors Liquidation Co. stock and represents the bad GM (or everything not part of the new GM). It would have to be a stretch to believe that it has upside at this point but suggest that you speak with a professional before making any decisions.
avewhtboy
08-04-2009, 09:35 AM
I am not sure that is correct (well, I am pretty sure that it is entirely incorrect). My understanding is that the "new GM" is still technically private (and will be so for the next year) and that the stock that is on the market now (GMGMQ now MTLQQ.PK) is Motors Liquidation Co. stock and represents the bad GM (or everything not part of the new GM). It would have to be a stretch to believe that it has upside at this point but suggest that you speak with a professional before making any decisions.

Correct, the stock that is trading out there now is paper, once the company went through bankruptcy the common shares are "wiped out". They are not attached to any assets of the new company.

So if you want to buy to trade because you think this stock is going to go up then fine, but realize this stock has nothing to do with the company but a lot of people don't realize that so they buy it anyway...

Smart money would stay away from this maybe buy F or wait for GM to re issue. The newly issued stock will likely be around $20 though.

all this is imo of course i am not a financial professional, just a daytrader lol
RECOVERY ROOM
08-04-2009, 10:19 AM
FORD has done well lately,..Everyone is correct on the GM that posted,checked it out this morning..Going to wait till there a company again.