Who else is Excited that they bought GM Stock.....post your loss - Camaro5 Chevy Camaro Forum / Camaro ZL1, SS and V6 Forums

headpunter · 06-01-2009, 08:47 AM

I am Super Psyched considering i bought at $5.50 per stock, and now its at 75 cents....

calflan · 06-01-2009, 09:01 AM

It's GOT to come back, doesn't it ?? Today's filing should be the start of the ressurection ... if there's going to be one. Although, getting back to $5 may take some time from less than $1.00.

diddiyo · 06-01-2009, 09:10 AM

isn't the current stock completely worthless after they get out of bankruptcy?

FenwickHockey65 · 06-01-2009, 09:15 AM

In 90 days, I'm buying a TON of GM stock...

Wingnut · 06-01-2009, 09:17 AM

The current stock holder will go to zero. After reorganization they can refile for another stock symbol, but current share holders stock is now worthless.
I bought at $4.00 and sold at $2.00. Only lost about $2k.

attymf · 06-01-2009, 09:23 AM

Guys should have done your homework. Your stocks are worthless. You knew this was comming and should have sold. O do like the idea of buying when the new GM stocks are available. But I'll only buy if I have my car.

GM can save money by using the old stock certificates for seat cushins and noise deadening material in the car.

manimsoblack · 06-01-2009, 02:03 PM

Haha i was gonna buy today if it got below $.40 for $.35 and sell as soon as it hit $1.... coulda made a few grand...

Hylton · 06-01-2009, 02:07 PM

The stock will always be part of the "old" GM. The new company, which will own Chevrolet, Buick, Cadillac and GMC, will have new shares issued. In other words, YOUR company will be selling the good brands to the NEW company which has nothing to do with you or your shares. Maybe you can each get a Hummer and a Saturn for your loss.

dbotsfordtat · 06-01-2009, 03:00 PM

I sold last year and lost about 10%, was feeling bad off and on as this drama played out. Now I feel a lot better.

Maddog78 · 06-01-2009, 04:31 PM

Quote:

Originally Posted by manimsoblack

Haha i was gonna buy today if it got below $.40 for $.35 and sell as soon as it hit $1.... coulda made a few grand...

You don't understand. Anything you would have bought today will be worthless when it is removed from the Exchange in a few days time.
Think of the the newly issued GM stock as a totally different stock from a totally different company. It will even have a different symbol.

About 6 mos. ago or so there was a thread on here about people buying stock to help GM. I advised against it. Hopefully I saved some people money.

diddiyo · 06-01-2009, 09:07 PM

Quote:

Originally Posted by fool.com:

I want to be crystal-clear about what GM's shares will be worth in very short order: Zero. Zilch. Nada. Zip. $0.00. Common shareholders are dead last on the totem pole of bankruptcy prioritization, which usually means they get nothing in a reorganization. If bankruptcy investing is new to you, I highly recommend this classic by fellow Fool Bill Mann: "When Companies Go Bankrupt."

If you own shares of GM, you should sell them. They're effectively worthless. Obviously, you also shouldn't be buying any shares of GM. These shares will be cancelled in short order, and you almost certainly will not receive new shares in the New GM. Again, please consult Bill's piece.

Don't be that guy who invests in the stock of a bankrupt company. It's as close to a surefire complete loss as you can find. And if you know someone who is thinking about becoming that guy, be a good friend and steer them clear.

fyi. i am a good friend!

UCF w00t · 06-01-2009, 09:17 PM

Investing in something without any clue as to what you're buying is the exact thing that caused the current financial troubles. The only difference is that most of that was in bundled mortgages and credit default swaps instead of common stock.

camaro5 · 06-01-2009, 10:02 PM

Quote:

Originally Posted by Maddog78

You don't understand.

Anything you would have bought today will be worthless when it is removed from the Exchange in a few days time.

Think of the the newly issued GM stock as a totally different stock from a totally different company. It will even have a different symbol.

About 6 mos. ago or so there was a thread on here about people buying stock to help GM. I advised against it. Hopefully I saved some people money.

Done.

.

manimsoblack · 06-01-2009, 11:09 PM

Quote:

Originally Posted by Maddog78

You don't understand. Anything you would have bought today will be worthless when it is removed from the Exchange in a few days time.
Think of the the newly issued GM stock as a totally different stock from a totally different company. It will even have a different symbol.

About 6 mos. ago or so there was a thread on here about people buying stock to help GM. I advised against it. Hopefully I saved some people money.

it hit $1 today for a short time and it was still being traded so i think i would've been good. i wasn't thinking in days i was thinking in hours.

06-01-2009, 08:47 AM	#1
headpunter Not That sad..considering Drives: Man Join Date: Aug 2007 Location: the part of washington the capital forgot about. Posts: 3,747 View My Garage	Who else is Excited that they bought GM Stock.....post your loss I am Super Psyched considering i bought at $5.50 per stock, and now its at 75 cents.... __________________ Stop Whinging

06-01-2009, 09:01 AM	#2
calflan Drives: 1LT; IBM; 6 Spd Manual Join Date: May 2009 Location: Heath, Tx. Posts: 499	It's GOT to come back, doesn't it ?? Today's filing should be the start of the ressurection ... if there's going to be one. Although, getting back to $5 may take some time from less than $1.00. __________________ 1LT; Airaid CAI; Flowmaster American Thunder Axelback; Int Floor Lts; RS Spoiler; Radio Controls; Sequential tail lights; Oil Catch Can; VMAX Throttle Body; MACE plenum spacer; Mace manifold insulator[/I]

06-01-2009, 09:15 AM	#4
FenwickHockey65 General Motors Aficionado Drives: 2023 GMC Canyon, 2020 Colorado Join Date: Aug 2008 Location: Florida Posts: 37,371 View My Garage	In 90 days, I'm buying a TON of GM stock... __________________ 2023 GMC Canyon Elevation 2020 Chevrolet Colorado W/T Extended Cab (State-issued)

06-01-2009, 09:17 AM	#5
Wingnut GOT IT....LOVE IT!!! Drives: 2010 2SS, Silver Ice Join Date: Jan 2009 Location: San Antonio Posts: 193	The current stock holder will go to zero. After reorganization they can refile for another stock symbol, but current share holders stock is now worthless. I bought at $4.00 and sold at $2.00. Only lost about $2k. __________________ 2SS, Silver Ice......delivered June 10th!

06-01-2009, 09:23 AM	#6
attymf Drives: 2017 SS Join Date: Nov 2008 Location: LI, NY Posts: 755 View My Garage	Guys should have done your homework. Your stocks are worthless. You knew this was comming and should have sold. O do like the idea of buying when the new GM stocks are available. But I'll only buy if I have my car. GM can save money by using the old stock certificates for seat cushins and noise deadening material in the car. __________________ SS, A8, Procharger, M&T's and stuff...

06-01-2009, 09:10 AM	#3
diddiyo Drives: . Join Date: May 2008 Location: . Posts: 3,053	isn't the current stock completely worthless after they get out of bankruptcy?

06-01-2009, 02:07 PM	#8
Hylton Drives: fanboys and ass kissers crazy. Join Date: May 2008 Location: Ottawa, Ontario Posts: 7,280	The stock will always be part of the "old" GM. The new company, which will own Chevrolet, Buick, Cadillac and GMC, will have new shares issued. In other words, YOUR company will be selling the good brands to the NEW company which has nothing to do with you or your shares. Maybe you can each get a Hummer and a Saturn for your loss. __________________ "BBOMG - More than just a car show.... It's an experience!"

06-01-2009, 03:00 PM	#9
dbotsfordtat Drives: 2016 Camaro Join Date: Nov 2008 Location: Iowa Posts: 502	I sold last year and lost about 10%, was feeling bad off and on as this drama played out. Now I feel a lot better.

06-01-2009, 09:17 PM	#12
UCF w00t Geek Drives: IOM 2010 Camaro 2SS Join Date: Oct 2008 Location: Orlando Posts: 4,452	Investing in something without any clue as to what you're buying is the exact thing that caused the current financial troubles. The only difference is that most of that was in bundled mortgages and credit default swaps instead of common stock.

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