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Home > General > The Cantina > [Politics/Econ] someone smarter than I am please explain this to me

[Politics/Econ] someone smarter than I am please explain this to me

 
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Aske
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[Politics/Econ] someone smarter than I am please explain this to me
« on: June 05, 2009, 09:13:08 AM »
http://www.google.com/finance?q=OTC:GMGMQ

 Huh?
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Fuzzy
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Re: [Politics/Econ] someone smarter than I am please explain this to me
« Reply #1 on: June 05, 2009, 09:57:13 AM »
Gambling.

Assuming you are referencing the 20% pop, Huh? Not your typical bankruptcy so I suppose there are those who have confidence they aren't going away.
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Aske
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Re: [Politics/Econ] someone smarter than I am please explain this to me
« Reply #2 on: June 05, 2009, 10:01:58 AM »
Quote from: Fuzzy on June 05, 2009, 09:57:13 AM
Gambling.

Assuming you are referencing the 20% pop, Huh? 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.  $0.02
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Russia has invaded a sovereign neighboring state and threatens a democratic government elected by its people. Such an action is unacceptable in the 21st century.
--  Chimpy McFlightsuit, CEO of Bu$hco Industries of 'Merka
Fuzzy
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Re: [Politics/Econ] someone smarter than I am please explain this to me
« Reply #3 on: June 05, 2009, 10:11:44 AM »
Quote from: Aske on June 05, 2009, 10:01:58 AM
Quote from: Fuzzy on June 05, 2009, 09:57:13 AM
Gambling.

Assuming you are referencing the 20% pop, Huh? 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.
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"You have brains in your head. You have feet in your shoes. You can steer yourself any direction you choose."
From Oh the Places You'll Go, by Dr. Seuss (Theodor Geisel)
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