GM Stock Nearly Doubles in One Week

[I-Love-Pontiac]

That's what happens when a stock is oversold. Yeah GM is having a rough time, but there was absolutely no reason for a 50+ year low.

[dindak]

Sold 500 this morning at $15.03. Holding the rest for now.

Got to take some profits!

[2002 Caddy]

Originally Posted by I-Love-Pontiac

There was absolutely no reason for a 50+ year low.

There were actually two reasons
1) Record high oil prices and
2) Record low truck sales

Oil seems to be on its way down... If truck sales turnaround all will be well. At least until the next crisis. At least we all know that we can't rely ONLY on truck sales if the company is to survive... And that is a good thing.

[ChevroletRevived]

Finally, some good news. Any movement upwards should be welcomed. Yes, there's a lot of work ahead but some people already made a lot of money and will stand to make a lot more going forward if they hold on to their stock. I've always said, it's GM's short-term outlook that is the biggest problem. Freefalling truck and overall market sales, high gas prices, etc were not boding well for the turnaround efforts. Thankfully oil seems to be going down and some product announcments have been made. I'm hoping sales hold for this month, if they do this the "rally" can be sustained and possibly continue on much higher.

[PontiacBixler]

Originally Posted by BigAls87Z28

Should have bougt a few hundred shares last friday....

No foolin right?!

I was tempted to crack open a savings account to make that kind of purchase because my gut told me that it wouldn't stay below $10 for long.

Think about this fuzzy math:
If you bought $1000 worth of stock on Friday, you could have potentially walked away with somewhere around 111 shares. As of this moment it is trading for $14.73. Already you would have a net value of $1635.03. A frickin $635 increase in 5 days! For what? Just sitting there and forgetting about it for God's sake!

Now project yourself into a theoretical future where the stock meets the past year's 52 week high of 43.20.... That 111 shares just became $4795.20. Not too shabby for an initial $1000 investment! Now imagine if you invested MORE?

That's why I have my 401k VERY stock heavy and very low on mutual funds. My 401k is kicking everyone else's recently. But you have to remember, the stock market will make you rich or can strip everything away from you in a heartbeat. You just have to know what boat to get in for the type of seas you want to travel and if the seas start getting too rough you need to know when to bring the boat back into harbor and wait for the storm to pass.

[johnny smallblock]

Great, the worst is seems over. GM has its ship turned around and all is well in Motor City.

[Hotspur]

Originally Posted by johnny smallblock

Great, the worst is seems over. GM has its ship turned around and all is well in Motor City.

Well...July numbers aren't out yet, and even with slight drop in oil prices rumors of a credit card crisis now emerging...

[Joevette]

i knew i should've bought some! if it ever drops again i am definitely getting some right away

[Mikkoo]

Bought 390 add'l shares on June 13th at $15.87. Then saw the bottom drop out from
under them, only to see the stock recover. I'm thrilled to be able to unload them
today for $15.67. I'd call that basically a wash. I knew some profit taking was going
to happen sometime this week, considering the huge run up in share price.

[TimR]

Originally Posted by dindak

Sold 500 this morning at $15.03. Holding the rest for now.

Got to take some profits!

You did better than me, I sold yesterday @14.30 for a net gain of about 40% in three weeks. Left some in just for fun but pulled the original amount back out plus profit.

So where are all the guys who were screaming how stupid we would be if we bought stocks??

[I-Love-Pontiac]

Originally Posted by 2002 Caddy

There were actually two reasons
1) Record high oil prices and
2) Record low truck sales

Oil seems to be on its way down... If truck sales turnaround all will be well. At least until the next crisis. At least we all know that we can't rely ONLY on truck sales if the company is to survive... And that is a good thing.

Record low trucks sales? Are you kidding me? Even with these gas prices GM makes more from their trucks than anything else.

[TimR]

Originally Posted by I-Love-Pontiac

Record low trucks sales? Are you kidding me? Even with these gas prices GM makes more from their trucks than anything else.

He said record low truck SALES, not record low truck PROFIT.

[fastball]

The Camaro launch can't be hurting GM, either.

I'm telling you all..... this is not your old fashioned Camaro. It's got sophistication, refinement, and technology that rivals the best from Europe and Japan in it's price class.

It's gonna sell.

[Buickman]

five bucks by mid August. bank on it.

[NfamousZ24]

Originally Posted by Buickman

five bucks by mid August. bank on it.

Buickman I would have agreed with you if Oil wasn't dropping, And if the goverment wasn't enforcing shorts laws that are in place.

But we have Oil dropping and goverment actually enforcing the laws.