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GM Stock could hit $0 - Ouch

Times are only getting tougher.

Posted by epic on November 11, 2008

Tags: gm, stock, domestic

General Motors Corp.'s shares plunged more than 31 percent to their lowest level in more than 55 years after two analysts downgraded the Detroit automaker's stock and said it could be worth little or nothing if the company gets a government bailout.

GM fell to $3.02 a share at one point -- down $1.34 a share -- or about 31 percent. It recovered in morning trading to $3.27, down 25 percent. Deutsche Bank analyst Rod Lache reduced GM to sell and put a price target of $0 a share -- saying any government bailout would sharply lower the value of the stock.

Source: Detroit News

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10 Comments on this Article

3p0ch at 10:49 AM on 11/11/08

What does that mean for GM for their stock to be worth $0? What about all of those with stock options?

CamaroZach at 10:56 AM on 11/11/08

@3p0ch: They shoulda sold em hahaa same goes for the shareholders. If they get bought out someone will give em like x per share but not anything what wont make you cry.

Unreal...Id still rock a GM over anything haha

00firebird at 11:31 AM on 11/11/08

wonder why he thinks getting 50 billion will hurt them.

HotRodJ-Rod at 11:40 AM on 11/11/08

How do you buy stock that is $0? Do you just say "Hey, I want this please."

I guess all you have to do is pay the broker in the process...

CamaroZach at 12:15 PM on 11/11/08

nah you cant buy stuff at 0 when they are declaring bankruptcy.

Indy at 1:28 PM on 11/11/08

@00firebird: Because the bailout will be artificially keeping a company alive that would otherwise be belly up. Even with restructuring, earning outlooks are bleak when you have a federal loan ("investment" Wink that big hanging over your head.

Kingsize at 8:37 PM on 11/11/08

Roll Eyes Give me a break... Rod Lache is a fucking retard. (Picks up the phone to order another 3000 shares). GM will still be here when my kids, kids, die. I hate fucking dumb asses.

noriceinside at 10:24 PM on 11/11/08

yeah now is the time to buy GM stock. the economy will pick up, it always does. the car market will too, so buy GM stock now and you'll be rich in a year.

Coryislost at 11:04 PM on 11/11/08

and to think GM was trying to buy out Chrysler... WITH WHAT, HOPES AND DREAMS?!? GM will be around forever because they employ too many people here in the states. They aren't a competitive auto maker and haven't been for years but don't let that fool you in to thinking they won't survive. They're like the airlines....