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bigslow
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  • How will GM's Plan (now in court) affect GMGMQ ?  3 comments
    Jun 30, 2009 10:06 PM | about stocks: GM

    I read an AP article today (6/30/09) about GM's plan to emerge from Chapter 11

    the article stated that existing shareholders are expected to be wiped out

    I am a novice who has GMGMQ shares.

    will GMGMQ be wiped out ?

    I thought GMGMQ was the post bankruptcy shares ?

     

    sorry for sounding alittle stupid...just imagine how i feel !

    please advise

     

    Stocks: GM
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  • r5r5r5
    , contributor
    Comments (8) | Send Message
     
    No, Already announced the proposed viable new GM; the current gmgmq will be renamed (something like Motors Liquidating Corp) which will own 10% of the new GM and own warrants to buy same BUT the value left to common holders of gmgmq 'they' say is likely zero.
    if true, This would make current price (above zero)recently above $1, LUNACY bought by the millions by folks i guess like you.
    9 Jul 2009, 07:42 PM Reply Like
  • VT
    , contributor
    Comments (2) | Send Message
     
    Notice the comment in the initial post, "I am a novice." My suggestion, stop trading, go learn the IBD system or any system where you buy stocks that are already showing promise and have a chance of going higher.

     

    Bottom fishing for shares where the company has declared a certainty that the value is zero shows a mistake I have made myself in the past. GM didn't become a pink sheet listing for any good reason, and there are many many many better opportunities out there to make money.

     

    "When in doubt stay out"
    15 Jul 2009, 12:32 PM Reply Like
  • VT
    , contributor
    Comments (2) | Send Message
     
    Ouch! MTLQQ, the former GMGMQ down 50%. At least you know it can't go below zero, in most cases.
    15 Jul 2009, 03:09 PM Reply Like
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