Who is buying GM?

Discussion in 'Stocks' started by Cutten, Mar 30, 2009.

  1. This stock is worth ZERO. No one should be buying it even at 1 cent.

    Someone remind me which chump said "the market is always right". Lol yeah, GM kinda disproves that one for the ages.
  2. Who would buy GM here? Well, there are the people that shorted GM some time back who have decided to close out there position now.
  3. Maybe GM can take it's assets to the Fed for cash - might be less toxic than some of the other stuff they are taking...
  4. The same person that is negotiating to buy the brooklyn bridge and swamp land in florida
  5. m22au


    I was trying to work out bullish arguments for GM as I added to my short GM calls position this morning.

    All I could come up with were:

    (a) weak and pathetic arguments
    (b) situations that are extremely unlikely to occur
    (c) combination of A and B


    (1) Some unexpected good news from the Obama speech at 11am ET (yes, the stock did rally to $3.19, but that rally only lasted for a few hours)

    (2) GM manages to pull a rabbit out of a hat between now and the 60 day deadline

    (3) Obama changes his mind, and decides to provide more bailout money after 60 days are over

    (4) hyperinflation kicks in, resulting in increased consumer spending, including purchases of GM vehicles

    So the end result was that I decided that buyers of GM stock are an extremely optimistic bunch of people, or just plain silly, and I ended the day with a larger position size than I did on Friday.