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Title: [Politics/Econ] someone smarter than I am please explain this to me Post by: Aske on June 05, 2009, 09:13:08 AM http://www.google.com/finance?q=OTC:GMGMQ
??? Title: Re: [Politics/Econ] someone smarter than I am please explain this to me Post by: Fuzzy on June 05, 2009, 09:57:13 AM Gambling.
Assuming you are referencing the 20% pop, ??? Not your typical bankruptcy so I suppose there are those who have confidence they aren't going away. Title: Re: [Politics/Econ] someone smarter than I am please explain this to me Post by: Aske on June 05, 2009, 10:01:58 AM Gambling. Assuming you are referencing the 20% pop, ??? Not your typical bankruptcy so I suppose there are those who have confidence they aren't going away. It's been stated unequivocally that outstanding shares will *not* be converted to stock in the "new" GM -- whenever that goes public. The stock under this definition has a future forward value of 0.00 (other than novelty/history value in a museum) . I mean, hell, I wish I had the nuts to go around day trading it right now, but I really wonder who all the buyers are. (They must think they will find even higher* buyers ?) I mean at least with the real estate bubble there's a tangible asset behind the self-inflating cycle... but this is just silly-- trading completely valueless paper in a game of hot potato. $0.02 Title: Re: [Politics/Econ] someone smarter than I am please explain this to me Post by: Fuzzy on June 05, 2009, 10:11:44 AM Gambling. Assuming you are referencing the 20% pop, ??? Not your typical bankruptcy so I suppose there are those who have confidence they aren't going away. It's been stated unequivocally that outstanding shares will *not* be converted to stock in the "new" GM -- whenever that goes public. The stock under this definition has a future forward value of 0.00 (other than novelty/history value in a museum) . I mean, hell, I wish I had the nuts to go around day trading it right now, but I really wonder who all the buyers are. (They must think they will find even higher* buyers ?) I mean at least with the real estate bubble there's a tangible asset behind the self-inflating cycle... but this is just silly-- trading completely valueless paper in a game of hot potato. $0.02 Yep - Gambling. You're right about converting the existing stock. That's standard. Bondholders will try to get paid. |