Quote from musclemoney:
I'm with ya! That should be a standing rule here. DO NOT short GM!
Probably one of the worst historical shorts out there. Good call!
It went up today again on much smaller volume, then ended essentially unchanged. Could be start of an accumulation phase, or intermediate level in a short squeeze that will continue (or end of a squeeze, but that seems unlikely). But if there is a god, then this POS will eventually sink.
I was going to stand firm and not get involved. But when it shot up 14% on Wednesday I couldn't stand it any longer. Sold 10 Sep 22.5/25 verticals (not very daring, i admit). Up $50 today. Whopee! Try to hold your laughter down.