I own GM stock

[manlymatt83]

Should I just sell and cut my losses? It keeps dropping.

 

[PepePeru]

how badly do you need the money?
what is your avg. purchase price?

personally, i'd hold on to it. its a 3.15 a share. Surely the worst is over in terms of losses by now...

 

[RichardE]

I bought in at 4$ for 250 stocks and 5$ for 300 stocks, not a huge investment but I'm not selling yet

 

[soccerballtux]

Originally posted by: G Wizard
how badly do you need the money?
what is your avg. purchase price?

personally, i'd hold on to it. its a 3.15 a share. Surely the worst is over in terms of losses by now...

They're very close to being bankrupt.

Ask yourself this. Would you buy stock right now if you had money to invest? If not, and you would wait to see if they get a bailout, then you should sell with the intention to re-buy later. Why ride something out if you know it's going to go down? Play from your head, not from your heart. This is hard to do with your own money. I would recommend a sell. Of course I cannot be held liable if this is the wrong decision.

 

[manlymatt83]

Originally posted by: soccerballtux

Originally posted by: G Wizard
how badly do you need the money?
what is your avg. purchase price?

personally, i'd hold on to it. its a 3.15 a share. Surely the worst is over in terms of losses by now...

They're very close to being bankrupt.

Ask yourself this. Would you buy stock right now if you had money to invest? If not, and you would wait to see if they get a bailout, then you should sell with the intention to re-buy later. Why ride something out if you know it's going to go down? Play from your head, not from your heart. This is hard to do with your own money. I would recommend a sell. Of course I cannot be held liable if this is the wrong decision.

The second they go bankrupt the stock becomes worthless right?

 

[miketheidiot]

Originally posted by: G Wizard
how badly do you need the money?
what is your avg. purchase price?

personally, i'd hold on to it. its a 3.15 a share. Surely the worst is over in terms of losses by now...

just wait til it gets seized by the government!

 

[manlymatt83]

Originally posted by: G Wizard
how badly do you need the money?
what is your avg. purchase price?

personally, i'd hold on to it. its a 3.15 a share. Surely the worst is over in terms of losses by now...

Bought in at around $5 and $4

 

[ggnl]

Originally posted by: soccerballtux

Originally posted by: G Wizard
how badly do you need the money?
what is your avg. purchase price?

personally, i'd hold on to it. its a 3.15 a share. Surely the worst is over in terms of losses by now...

They're very close to being bankrupt.

Ask yourself this. Would you buy stock right now if you had money to invest? If not, and you would wait to see if they get a bailout, then you should sell with the intention to re-buy later. Why ride something out if you know it's going to go down? Play from your head, not from your heart. This is hard to do with your own money. I would recommend a sell. Of course I cannot be held liable if this is the wrong decision.

There's a very good chance the stock will be worthless even if they do get bailed out because the gov't is going to take a huge equity stake. Just look at AIG.

 

[PepePeru]

Originally posted by: soccerballtux

Originally posted by: G Wizard
how badly do you need the money?
what is your avg. purchase price?

personally, i'd hold on to it. its a 3.15 a share. Surely the worst is over in terms of losses by now...

They're very close to being bankrupt.

Ask yourself this. Would you buy stock right now if you had money to invest? If not, and you would wait to see if they get a bailout, then you should sell with the intention to re-buy later. Why ride something out if you know it's going to go down? Play from your head, not from your heart. This is hard to do with your own money. I would recommend a sell. Of course I cannot be held liable if this is the wrong decision.

i'm saying in terms of a % loss the worst is probably over. The stock is 3 bucks. It doesnt cost anything to hold on to a stock.

The damage is not done until you sell. If a stock like GM goes to 0, then, that would be unprecedented. Chalk it up to bad luck that the quintessential American corporation just went belly up. If you anyone claims to have predicted and believed that a year ago, then, you're a fool for not short-selling.

All that said, I personally don't believe the gov. will allow GM to go under.

 

[IHateMyJob2004]

There will be a bailout. You should have never bought it. Toyota is the best auto maker out there to invest in and even that company is not worth investing in.

 

[V00DOO]

Originally posted by: IHateMyJob2004
There will be a bailout. You should have never bought it. Toyota is the best auto maker out there to invest in and even that company is not worth investing in.

Yes I agree, they'll get bailout. As a country we can't afford to let GM go out of business. Imagine how many jobs will be lose if GM goes out of business.:Q

 

[rudder]

Originally posted by: V00DOO

Originally posted by: IHateMyJob2004
There will be a bailout. You should have never bought it. Toyota is the best auto maker out there to invest in and even that company is not worth investing in.

Yes I agree, they'll get bailout. As a country we can't afford to let GM go out of business. Imagine how many jobs will be lose if GM goes out of business.:Q

The crazy thing about it is... that if GM goes out of business... people will still need cars. Ford can make them, Chrysler can make them, and the new VW plant being built in Tennessee can make some as well.

I mean my taxpayer pockets only go do deep... how much more money will we throw at this dinosaur.

Same things with the airlines... Southwest airlines can manage to make money even it bad times... but the taxpayers have to bail out the mismanaged airlines.

oh hell, I thought I was in off-topic... but got stuck back in P&N.

 

[Cattlegod]

I don't care where it has been, I care where it is going. All indicators say that it is going down to 0, Bailout or not.

 

[Cattlegod]

Originally posted by: IHateMyJob2004
There will be a bailout. You should have never bought it. Toyota is the best auto maker out there to invest in and even that company is not worth investing in.

Exactly. Never buy the best house in a bad neighborhood.

 

[MrWizzard]

Originally posted by: V00DOO

Originally posted by: IHateMyJob2004
There will be a bailout. You should have never bought it. Toyota is the best auto maker out there to invest in and even that company is not worth investing in.

Yes I agree, they'll get bailout. As a country we can't afford to let GM go out of business. Imagine how many jobs will be lose if GM goes out of business.:Q

It really is not surprising to me that GM is in the situation that it is. If you look at what the unions did to it and their retirement benefits and the employees they pay even when they are not working they just kept shooting themselves in the feet. Eventually they are going to fall or need a crutch.

They could sell cars for sooooooo cheap if it were not for something?s they did internally.

 

[imported_Lothar]

Originally posted by: manlymatt83
Should I just sell and cut my losses? It keeps dropping.

The best way to play GM right now if you're "hoping" for a really big "speculative" bounce is to buy their SmartNotes.
They rank equal to senior unsecured debt, which recovers an average of about 40 cents on the dollar in bankruptcy cases.

What do stock holders get in bankruptcy cases? Zero.

The way I see it, it's a dumb move to buy either their stock or SmartNotes.
But the SmartNotes are a much better buy than buying (or holding onto) GM stock by a mile.

 

[manlymatt83]

Originally posted by: Lothar

Originally posted by: manlymatt83
Should I just sell and cut my losses? It keeps dropping.

The best way to play GM right now if you're "hoping" for a really big "speculative" bounce is to buy their SmartNotes.
They rank equal to senior unsecured debt, which recovers an average of about 40 cents on the dollar in bankruptcy cases.

What do stock holders get in bankruptcy cases? Zero.

The way I see it, it's a dumb move to buy either their stock or SmartNotes.
But the SmartNotes are a much better buy than buying (or holding onto) GM stock by a mile.

How do you buy smartnotes?

 

[CPA]

sell, and take the loss on your income taxes.

 

[sandorski]

Originally posted by: CPA
sell, and take the loss on your income taxes.

Probably a good idea, but if you don't need the Tax Deduction and can afford to lose it all, I'd hold onto to it. I seriously doubt that it will go under and it is very unlikely it will enter Chapter 11. Chapter 11 will cause more harm than good and would likely seal it's fate.

 

[RU482]

Originally posted by: manlymatt83
I own GM stock

no, GM stock pwned you

 

[SagaLore]

I'll buy it from you.

 

[IHateMyJob2004]

Originally posted by: V00DOO

Originally posted by: IHateMyJob2004
There will be a bailout. You should have never bought it. Toyota is the best auto maker out there to invest in and even that company is not worth investing in.

Yes I agree, they'll get bailout. As a country we can't afford to let GM go out of business. Imagine how many jobs will be lose if GM goes out of business.:Q

I want Ford, Chrysler or GM to go under.

With one of them gone, the other two will come out much stronger (better margins, increased sales, etc). From what I've read about GM, they should be the first to go. And unions (the UAW) need to be put in their place.

bailing out Gm will just lead to more bailouts down the road.

 

[IHateMyJob2004]

Originally posted by: MrWizzard

Originally posted by: V00DOO

Originally posted by: IHateMyJob2004
There will be a bailout. You should have never bought it. Toyota is the best auto maker out there to invest in and even that company is not worth investing in.

Yes I agree, they'll get bailout. As a country we can't afford to let GM go out of business. Imagine how many jobs will be lose if GM goes out of business.:Q

It really is not surprising to me that GM is in the situation that it is. If you look at what the unions did to it and their retirement benefits and the employees they pay even when they are not working they just kept shooting themselves in the feet. Eventually they are going to fall or need a crutch.

They could sell cars for sooooooo cheap if it were not for something?s they did internally.

Alot of the decisions were made when Toyota and Mazda were not so highly regarded. Shortsightedness is to blame also.

 

[ponyo]

Think of it as a cheap call option with no expiration. It's never too late to sell a stock if there is a market for it. I sold out of a large Worldcom position the day before they went bankrupt. I had like 50,000 shares of that worthless company I was gambling on. That's when I had more money and balls than brain. Even though I took about 33% loss on that stock, that was the single best and the luckiest trade in my life.

 

[ponyo]

Originally posted by: IHateMyJob2004

Originally posted by: V00DOO

Originally posted by: IHateMyJob2004
There will be a bailout. You should have never bought it. Toyota is the best auto maker out there to invest in and even that company is not worth investing in.

Yes I agree, they'll get bailout. As a country we can't afford to let GM go out of business. Imagine how many jobs will be lose if GM goes out of business.:Q

I want Ford, Chrysler or GM to go under.

With one of them gone, the other two will come out much stronger (better margins, increased sales, etc). From what I've read about GM, they should be the first to go. And unions (the UAW) need to be put in their place.

bailing out Gm will just lead to more bailouts down the road.

We should not have bailed out any company in the first place. Bailing out AIG, Fannie and Freddie, banks, and other financial institutions has led us down this slippery slope. Now we're on this slope and you want to play favoritism.