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Market Currents

Tuesday, May 12, 2009
11:03 AM TweetThis
  • An out-of-court restructuring of GM (GM) would leave shareholders with just a 1% stake, Tom Petruno notes. "Even if the company could earn $10B/year at some point, that equates to $100M for the current 600M shares outstanding - about $0.17/share," he says. "Speculators who are thinking of buying should do the math," as insiders who are dumping shares apparently already have. GM -21.5% to $1.13.
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This news story has 4 comments:

  •  
    People who buy stocks like GM, AIG, FNM, to name a few, at this point do not understand basic accounting. Another legacy of the bull market.
    May 12 11:09 AM | Link | Reply
  •  
    Are they waiting for a short squeeze? I'm totally dumbfounded by buyers here.
    May 12 11:13 AM | Link | Reply
  •  
    My guess is that people are betting GM will avoid bankruptcy. That seems like one heck of a long shot at this time. The dealership issue alone tells me bankruptcy is enviable.
    May 12 11:20 AM | Link | Reply
  •  
    Soon, the GM the we know we not exist, thank god. So who will pay for the retiree pensions and health care? Grab onto your wallet...
    May 12 12:46 PM | Link | Reply
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