GM IPO

5 posts / 0 new
Last post
Johnny Oxygen's picture
Johnny Oxygen
Status: Diamond Member (Offline)
Joined: Sep 9 2009
Posts: 1443
GM IPO

Ok. I just have to ask this to see what people here think.

Don't you think this whole nonsense about only allowing certain groups or organization to 'be lucky' enough to buy the new GM shares was just a tatctic to get people interested? I mean the best way to get people to want something is to tell them they can't have it.

GM went down very predictably for ten years, almost a 45 degree decline. Then they go bankrupt. Then they say they have restructured and have a bright future. Really? It takes at least three years form concept to production for most cars. So how has anything changed? Its just the same ol' same ol' why in the heck would anyone want to invest in GM?

I suspect once enough foolish money goes into these IPO's the initial buyers will quietly sell.

radishcake's picture
radishcake
Status: Bronze Member (Offline)
Joined: Jun 11 2009
Posts: 38
Re: GM IPO
Johnny Oxygen wrote:

I suspect once enough foolish money goes into these IPO's the initial buyers will quietly sell.

Oh heavens no! that would be dishonorable, wouldn't it?

/sarcasm

Johnny Oxygen's picture
Johnny Oxygen
Status: Diamond Member (Offline)
Joined: Sep 9 2009
Posts: 1443
Re: GM IPO

GM Shares Soar, But Is It Too Late for Investors to Buy?

http://www.cnbc.com/id/40255011

 

Come on. Give me a break.

Johnny Oxygen's picture
Johnny Oxygen
Status: Diamond Member (Offline)
Joined: Sep 9 2009
Posts: 1443
Re: GM IPO

Banks Make GM IPO the Largest Ever

http://www.dailyfinance.com/story/company-news/banks-make-gm-ipo-largest-ever/19734867/ 

The General Motors (GM) IPO is now the largest ever, following the expansion of the offering by the underwriters.

The company announced Friday that "the underwriters have exercised in full their over-allotment options to purchase an additional 71.7 million shares of common stock from the selling stockholders, for a total of $2.37 billion, and an additional 13 million shares of mandatory convertible junior preferred stock from the company, for a total of $650 million, in connection with the previously announced public offering of common and mandatory convertible junior preferred stock of General Motors. The exercise of the over-allotment options brings the total offering size to $23.1 billion."

The firms include Morgan Stanley (MS), JP Morgan Chase (JPM), Bank of America (BAC), and Citigroup (C). According to Reuters, "The added shares vaulted GM past Agricultural Bank of China's $22.1 billion IPO in July and underscored the strong demand for the taxpayer-rescued automaker's stock."

LoL
Wait a minute weren't these the banks that the government bailed out? Hmmm...so in reality the government purchased all these stocks with printed money.

 

Johnny Oxygen's picture
Johnny Oxygen
Status: Diamond Member (Offline)
Joined: Sep 9 2009
Posts: 1443
I have to toot my own horn...toot-toot

Johnny Oxygen wrote:

I suspect once enough foolish money goes into these IPO's the initial buyers will quietly sell.

 

Presenting The GM "Insider Purchases"

http://www.zerohedge.com/news/presenting-gm-insider-purchases

In parallel with today's latest market implosion, the shares of the once and soon to be again bankrupt vendor of Channel Stuffed vehicles, GM, are down to $23.59, nearly 30% below their November IPO price. Unfortunately, the share performance demonstrates what happens when an artificial HFT price support, in this case, Getco, crashes and burns. Yet what is ironic is that according to alleged GM part-time advertising clerk Phil Lebeau this has to be taken in context with the substantial insider buying that has also been occurring in GM shares. Fair enough: we decided to observe just how substantial this insider buying has been. After all, the one recurring theme we hear non stop is how aggressive insider buying has been in recent weeks. Alas, when it comes to size everyone shuts up. Perhaps here is the reason: since the Company's IPO insiders have purchased a massive... $2.256 million. That's a total of 74,000 shares. And oh yeah, offsetting this are $4.1 billion in insider sales. So, once again, this whole insider buying argument, unfortunately falls flat on its face.

 

Comment viewing options

Select your preferred way to display the comments and click "Save settings" to activate your changes.
Login or Register to post comments