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General Motors (GM +3.6%) sold more shares than expected at a higher price than originally...

General Motors (GM +3.6%) sold more shares than expected at a higher price than originally planned in its return to the market. But IPOs are often lousy long-term investments: For the 50 biggest blockbuster IPOs since 2005, the average first-day return was 56%, but if you bought those stocks a week later and held them for a year, you would have lost an average 5.6%.
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Comments (3)
  • 1980XLS
    , contributor
    Comments (3333) | Send Message
     
    Especially when they are like the GE, Pump and Dump Scheme A123.
    18 Nov 2010, 05:15 PM Reply Like
  • Morg
    , contributor
    Comments (250) | Send Message
     
    As I said in an earlier comment it opened at $35 and promptly lost
    -2.5% on the first day. Not exactly a spectacular IPO open. It was even worse if you bought at the days high ($35.99) where you would have lost almost -5.5%.
    18 Nov 2010, 05:36 PM Reply Like
  • Tony Petroski
    , contributor
    Comments (6368) | Send Message
     
    Isn't it a stretch to call the GM boondoggle an "IPO?"

     

    How about an "AHOFTMTU."

     

    An aging hulk of an organization funneling tax money to unions.
    18 Nov 2010, 06:50 PM Reply Like
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