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School Me on GM Stock

 
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EMP912
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PostPosted: May 20, 2009 7:25 am    Post subject: School Me on GM Stock Reply with quote

OK so here is the deal. First off I am an idiot with the worst luck in the world and I make dumb decisions.

Now that, that is out of the way. I have read over this press release about the GM stock exchange offer a couple of times and none of it makes any sense to me.

Link:
http://phx.corporate-ir.net/External.File?item=UGFyZW50SUQ9MzI2MXxDaGlsZElEPS0xfFR5cGU9Mw==&t=1

Can somebody (that is smarter than me) put this into Layman's terms for me I would appreciate it.

Not to give out my business but I was dumb enough to buy 200 shares at 2.00. So please help me decide what to do.

FWIW: I am leaning toward riding it out and selling as soon as I can break even if I can.

Thank you so much for any information.

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chavez
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PostPosted: May 20, 2009 8:10 am    Post subject: Reply with quote

EMP912, they are attempting to exchange notes (i.e bonds) for common stock in an effort to wipe billions in liabilities off of their books and possibly avoid bankruptcy.

Anyhow - you own common stock, not notes, so this offer does not pertain to you.

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EMP912
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PostPosted: May 21, 2009 5:24 am    Post subject: Reply with quote

Thanks, Chavez.

What does everybody think GM is going to do???
1. Go under so get out while you can, cut my losses.
2. Spike back up for a bit then go under, wait for the closest spike or as soon as you can break even get out.
3. They will have a monumental turn around and my little $400.00 investment will make me a millionaire. Very Happy

I am just hoping to break even but if I loose it won't hurt to bad. I knew it was risky and this was kinda play money but still 400.00 is 400.00.

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Tyler T
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PostPosted: May 21, 2009 7:15 am    Post subject: Reply with quote

Why are you bothering trying to time the market?
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_bruky
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PostPosted: May 30, 2009 10:17 pm    Post subject: Reply with quote

I don't truly have an answer for you. Personally, when GM stock was $2.00/share, I didn't think anybody was actually considering the purchase of the stock. I did however watch a few folks on a GM forum purchase this stock when it was on the downturn around $10.00/share. Now they own sheets of paper stating they made a donation to the highly inefficient U.S. government. Confused

If you are only out $400, just hang in there. Obamaramadingdong loves the unions, and they are purchasing the motor companies in bits and pieces. These unions have the support of the feds, and you will be fine come a few years from today. At no point will you become a millionaire, however.

Union companies do not fair as well in the upturn as open shop companies. The unions create unnecessary expenditures for the firms and add fat to their waistlines. If we had a libertarian president at the time, I would be concerned in your position, but we have a slightly deranged, but liberal leader who has strong ties to the AWU's.
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imshirazy
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PostPosted: Jul 14, 2009 7:37 pm    Post subject: Reply with quote

I dunno...i think the investment in GM might be a good idea but im probably not as knowledged as you. Now GM stock is equity, somewhat government run, and they seem to have a plan for future endeavors. Problem is can they really do it... I'm not 100% sure where to go, but i have a 60% chance feeling that they may do good
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