Why are people buying this stock?
Despite having no real value, investors continue to trade GM stock
Excerpt:
As of 10 am this morning, General Motors stock was trading at about 80 cents. If you think that is a bit of a bargain, you may be a bit of crazy. With The General apparently almost finished with bankruptcy, there is near certainty that the company's common stock will mean exactly nothing in a manner of days or weeks.
GM is warning investors that the stock grab is a bad idea, releasing a statement reiterating its "strong belief that there will be no value for the common stockholders in the bankruptcy liquidation process, even under the most optimistic of scenarios."
Comment: nostalgia? naivete?
No comments:
Post a Comment
Any anonymous comments with links will be rejected. Please do not comment off-topic