GM -6.39% so far.

Anytime Bob Pisani is jumping up and down about an IPO saying that its "way oversubscribed" is the time to RUN away, RUN far far away.

In any event, trading such a new issue is a suckers game. I wouldnt trade it until it has been on the exchange for at least 6 months. Why trade GM anyway? There are 5000+ stocks on the exchange and 500 stocks in the S&P. Why not just find another stock?

The only thing that CNBC got right about GM was on the first day hedge funds probably flipped the stock from long to short.
 
I don't know about this issue, i'd never ever consider buying an IPO retail, but often there is a blackout period during which the underwriter's buddies can't sell their stock. Then when the blackout expires, they all dump at once, just like musical chairs.

My first stock purchase was an IPO, bought from a bucket shop in Denver while I was an undergrad college student. It was also my first and only 100% loss in the market. I've not forgotten the valuable lessons learned.

Is there a blackout period on the GM issue? If so, when does it expire?
 
Quote from Saoleo:

Hi is 35.99 on 18th. Someone has bought under this price.
It is 33.48 now. Someone has lost 7 %.
More...

OH my god run for the hills ! A stock thats been out for 1 whole week is down $2 off its highs.

BIG DEAL
 
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