GM at 53-YEAR low since 1955

[turkeyneck]

DETROIT (Reuters) - Shares of General Motors Corp hit their lowest level since 1955 and dragged down the auto sector on Thursday after Goldman Sachs cut the struggling U.S. industry's largest manufacturer to a "sell" rating and warned it would have to raise capital.

http://www.reuters.com/article/vcCandidateFeed2/idUSN2645111720080626

 

[MrDODGE]

It should be closer to $3 per share. Look at their financial statements.

 

[nazzdack]

There are too many GM-related threads here now! :eek:

 

[stock_trad3r]

GM should be taken off the dow

 

[libertad]

Gratus...the Bush Cheney Oil Administration.....



Maybe Tata will eventually buy what is left.....

With discounted dollars of course.....


Like curry ?

Another Bush mission accomplished.......

 

[Daal]

it takes a investment bank report to make the stock market realize the obvious. how sad is this

 

[S2007S]

Last time a dow stock traded this low was I think MCD back around 4-5 years ago, touched 12-14 a share and ran to $60+ over the next few years.....wonder if the same thing could happen to GM...Dont think so.

 

[The Kin]

Quote from Daal:

it takes a investment bank report to make the stock market realize the obvious. how sad is this

GS was probably sitting on this while they shorted the shit out of GM.

They're the smartest guys in the room, but they're probably laughing hard about the above quote. It's true.

 

[wutangfinancial]

Quote from Daal:

it takes a investment bank report to make the stock market realize the obvious. how sad is this

It shows that the market is not information efficient.

And GM is a widely covered stock. There's more opportunity with small caps.