just dropping like a rock these last few days....cramer said this was going to $40...came close but I think thats it for GM, back to the mid 20's it goes.
yea I think thats the reason, he is boosting his stake in MGM, I guess the money follows where he goes...... MGM new high, up 10% on this news Last Trade: 54.29 Trade Time: 12:37PM ET Change: Up 5.29 (10.80%) Prev Close: 49.00 Open: 52.00 Bid: N/A Ask: N/A 1y Target Est: 51.69 Day's Range: 52.00 - 54.40 52wk Range: 34.20 - 49.36 Volume: 3,916,300 Avg Vol (3m): 1,517,640 Market Cap: 15.26B P/E (ttm): 29.17 EPS (ttm): 1.861 Div & Yield: N/A (N/A)
WASHINGTON (Reuters) - Billionaire Kirk Kerkorian's Tracinda Corp. investment firm reported on Wednesday holding a 7.4-percent stake in giant auto maker General Motors Corp. (NYSE:GM - News), down from 9.9 percent. In a U.S. regulatory filing, Tracinda said it agreed on November 20 to sell 14 million common shares in a private transaction for $33 per share.