GM Stock

2009-06-01 12:38:08

#1

too_money2007: Member; +145|6551|Keller, Tx

So, it's $.081/share today. Is it smart to invest? If it really comes back, and say, you buy 10k shares at $.81, then if it hits, say, $50/share, you'd make a killing?

I'm not sure, but can you buy stock of a company in bankrupcy?

2009-06-01 12:44:48

#2

Agent_Dung_Bomb: Member; +302|6979|Salt Lake City

I'd be careful. In a bankruptcy it is often the shareholders that take it in the rear. It isn't unheard of to have stock in a bankrupt company be replaced by new stock as the company comes out of bankruptcy and the old stock becomes good for toilet paper, and not much else.

2009-06-01 12:47:52

#3

too_money2007: Member; +145|6551|Keller, Tx

Well, hmmm. I know nothing of the stock market, so I figured I'd ask. Might not hurt to try and get in at such a low price. Maybe not 10k worth, but something and see what happens. Or maybe when they're coming out of bankrupcy.

2009-06-01 12:49:41

#4

ghettoperson: Member; +1,943|6892

If you're going to, don't invest more than you would notice to lose. So say $100 or so. Means if it all goes down the shitter, you just don't go drinking one night when you normally would, but if something happens and it skyrockets, you get an easy couple of hundred bucks in your pocket.

EDIT: Just to clarify, what's the price? $0.081 or $0.81?

Last edited by ghettoperson (2009-06-01 12:50:39)

2009-06-01 13:45:29

#5

too_money2007: Member; +145|6551|Keller, Tx

It was 81 cents, but not to worry now, it was dropped from the DOW today, along with Citi.

2009-06-01 13:58:00

#6

DrunkFace: Germans did 911; +427|6924|Disaster Free Zone

It closed at $0.75 from a low of $0.27, so you could have almost tripled your money in less then 1 day.

Basically don't invest anymore then you can afford to lose. And don't forget to take brokerage fees into account, they can be substantial.
It's still trading Not anymore. But remember as a shareholder you are one of the last groups to get paid if they do liquidate.

Last edited by DrunkFace (2009-06-01 14:01:17)

2009-06-01 14:05:44

#7

Locoloki: I got Mug 222 at Gritty's!!!!; +216|6883|Your moms bedroom

It will be a different stock

http://amfix.blogs.cnn.com/2009/06/01/b … ankruptcy/

or so it seems

Last edited by Locoloki (2009-06-01 14:11:24)

2009-06-01 17:06:35

#8

RoosterCantrell: Goodbye :); +399|6723|Somewhere else

As long as you have the certificates, the actual papers.

Because...hell..... Enron Stock Certificates now are fucking expensive to buy even as nothing but a worthless piece of paper.

Buy a few and sit on them, they'll either recover, or be a good marketable nostalgia item.

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