should i buy some GM stock

[04silverz 10+ year member]

i mean last i saw it was down in the low 3's. i admitedly dont know much about stocks or anything like that, but i figure if i bought a bunch and just sat on it for years that it has to rebound at some point. i mean the **** company has been around for like 100 years. they ahve to rebound at some poitn right?

or insert stock x if you have another idea, iim sure theres tons out there.

as bad as this economy sucks right now, seems its very much a buyers market on everythiing if you ahve the money. i mean cars, boats, all the fun cool stuff that no one could really afford anyway, if you are established and have teh extra money, seems like you could get a good deal on anything.

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[99grandprixGT 5,000+ posts]

ya i was thinking about the same thing sitting in class today.

 

[ctt0002 10+ year member]

but pilgrim pride's stocks. They were .32 yesterday. Everybody eats chicken so they're bound to go back up.

Yea gm stocks will go back up eventually but it may take a while. But they're not gonna go bankrupt

 

[04silverz 10+ year member]

i remember back when the whole enron thing happened and their stock obviously nose dived. and then if you ahd bought a ton, at a low price and waited til it doubled, which still wasnt alot, you could sell it and make a ton of money.

i mean why not take advantage of the situation. but im sure there must be a reason why peple arent, otherwise i'd imagine it would be happening

also does anyone else kidna feel that the media is as much responsible for this as anyone else. i mean all they do is flame the fire and pour gas on it. you cant hardly turn on a channel without having stocks show on it. even watching sports tehy always refer to teh markets now.

 

[Lugnutz 10+ year member]

People aren't buying because there is a very real chance GM can go bankrupt.

 

[funkyab 10+ year member]

i admitedly dont know much about stocks or anything like that, but i figure if i bought a bunch and just sat on it for years that it has to rebound at some point. i

I would vote NO unless you consult first with a proper financial adviser.

 

[04silverz 10+ year member]

People aren't buying because there is a very real chance GM can go bankrupt.

so what? companies go bankrutp all the time. it affects small companies sure, but not the big ones. i hate that the auto industry feels they deserve federal money like the banks, i mean where does it end if they get money too? on the flip side, the govt aitn going to let them go anywhere though

i 99 percent wont buy stock, but its just an idea. its a gamble but not that much of one.

 

[Lugnutz 10+ year member]

so what? companies go bankrutp all the time. it affects small companies sure, but not the big ones. i hate that the auto industry feels they deserve federal money like the banks, i mean where does it end if they get money too? on the flip side, the govt aitn going to let them go anywhere though
i 99 percent wont buy stock, but its just an idea. its a gamble but not that much of one.

So what? Your stock could be worthless.

 

[Ken448 10+ year member]

so what? companies go bankrutp all the time. it affects small companies sure, but not the big ones. i hate that the auto industry feels they deserve federal money like the banks, i mean where does it end if they get money too? on the flip side, the govt aitn going to let them go anywhere though
i 99 percent wont buy stock, but its just an idea. its a gamble but not that much of one.

You DO realize of something happens to the nations auto industry, how HUGE the trickle effect will be, right??? Its not just the UAW workers that are driving the auto industry, its all the parts suppliers, suppliers to them, all of these buildings need maintenance and staff otherwise.. List goes on and on and will snowball into a tanked america in no time at all!

 

[04silverz 10+ year member]

dude i aint talking about buying it today and selling it in december.

i mean buying it and holding on to taht shit for years and years. if i buy it at 3 bucks a share and in 10 years its 9 a share. ive tripled my money by doing nothing. really the only thing holding me back is i could only do like 1 or 2 grand of stock. which even if it tripled my money would only be 6 grand and could take years and years. if i had like 20 grand, i would do it.

put it this way, if i had ten grand, this idea would more likely work out than all the suckers who bought into the world series of poker this year. i mean 666 players took mnoey home out of over 6 grand.

 

[warriorlax45 10+ year member]

well actually it might be a good idea. cause that bill might go through to help out auto makeers

 

[Stephen_c 10+ year member]

yes

 

[goofyre 10+ year member]

so what? companies go bankrutp all the time. it affects small companies sure, but not the big ones. i hate that the auto industry feels they deserve federal money like the banks, i mean where does it end if they get money too? on the flip side, the govt aitn going to let them go anywhere though
i 99 percent wont buy stock, but its just an idea. its a gamble but not that much of one.

They shouldn't give them money, but they should take away the two fleet rule they have for vehicles. That would affect chrysler a ton since they don't have fuel efficient vehicles.

 

[Rich B 5,000+ posts]

so what? companies go bankrutp all the time. it affects small companies sure, but not the big ones. i hate that the auto industry feels they deserve federal money like the banks, i mean where does it end if they get money too? on the flip side, the govt aitn going to let them go anywhere though
i 99 percent wont buy stock, but its just an idea. its a gamble but not that much of one.

Shareholders will be wiped out if they go bankrupt.

They would reissue new stock in a reorganization, your stock would be toilet paper.

 

[04silverz 10+ year member]

You DO realize of something happens to the nations auto industry, how HUGE the trickle effect will be, right??? Its not just the UAW workers that are driving the auto industry, its all the parts suppliers, suppliers to them, all of these buildings need maintenance and staff otherwise.. List goes on and on and will snowball into a tanked america in no time at all!

yeah i do understand taht. but i mean where does it stop. theyve already been pumping billions into the airlines, then a stimulus package to the banks, and now the auto industry wants money. i eman you do realize the govt doesnt really ahve any moeny either. i mean shit, they jsut added another digit to our natl debt recently. at some point this has to stop.

hopefully, after all this settles out, andit will at some point, everyone remember sthis and takes a lesson from it