Since y’all are part owners of the General Motors Company, how much do you think it is worth these days? Stock market says its worth 32 billion based on the closing share price last week of $20. That is about 1/2 what it was worth last year (share price was up to $40 last year). It’s lost 50% of its value this year. Yikes!
Can it drop forever or is there some level at which GM stock would be a bargain to buy? They have been making large profits lately (4.7B in 2010, probably 8B+ in 2011), car sales are going up, and they’re the market leader in the USA and China. On the downside the government has a boat load of (tax payer) shares (500 million shares) they want to unload before the election, they’re losing money in Europe, a couple Volts caught on fire, and the price of oil is likely headed back into the pain zone again.
Buy, Sell, or Hold?