GM on verge of bankruptcy

Seriously, how did I miss this? GM stock is on a tear right now (which, by the way, is different from "verge of bankruptcy"). Damn.

So, GM stock is just as good as FB stock?

I've been saving this picture.

Here is me, holding a flounder.

Dr. Hess wrote: So, GM stock is just as good as FB stock?

Um. Uh.

So, here's how stock works. You buy it at one price, then sell it at another. If you buy it at a low price and it goes up, you can sell it for more and make money. If you buy it at a high price, then sell it at a low price, you lose money.

GM stock is going up. So if you bought it a couple of weeks ago you could sell it now and make money. Uh, kind of a lot, actually. Facebook did an IPO and the stock as been in a free fall (that's, down) ever since. So if you bought it a couple of weeks ago and sold it now you'd lose money.

They're kind of the opposite, really.

No idea what's up with GM or why the stock is suddenly on fire, but I intend to find out.

The stock markets are controlled by a small number of HFT computer algorithms and prices of individual stocks rise and fall in ways that make no sense in relation to any meaningful data. The market will go up on very low volume because these computers trade stocks back and forth. I do not trust it one bit and am convinced that putting any money in the stock market is a fool's games unless you are one of the 0.1% on the inside who will always win.

I do have some money in there because I hope I am wrong, but it is all tied up in retirement accounts. I didn't click on any of the Forbes links and don't intend to.

fast_eddie_72 wrote: No idea what's up with GM or why the stock is suddenly on fire, but I intend to find out.

Product baby, product. Good cars, good quality, good sales (ie - real sales, not fleet, demos (see Mercedes/BMW), etc).

T.J. wrote: The stock markets are controlled by a small number of HFT computer algorithms and prices of individual stocks rise and fall in ways that make no sense in relation to any meaningful data. The market will go up on very low volume because these computers trade stocks back and forth. I do not trust it one bit and am convinced that putting any money in the stock market is a fool's games unless you are one of the 0.1% on the inside who will always win.

Ding ding ding, somebody's figured it out.

GM stocks probably became the chew toy for the HFT machines.

Maximum Bob pretty well 'splained it to the sniveling forbes guy.

I'm not much of a "player" in the stock market. Just a tiny bit of money, really, in one of those Scott Trade accounts. And I have no idea what I'm doing, really. But when something starts going up, I jump in. When it starts coming down, I jump out. Okay, maybe I put a little more work into it than that, but to claim I have any real idea how it all works would be lying.

Having said that, I am making money. Not getting rich, but enough to pay for autocross tires the way it's going. It's just a game, but so far, I'm winning.

Cone_Junky wrote:

stuart in mn wrote: Seriously, you guys should lay off reading every online editorial and blog you can find - it would really help your blood pressure. Just because some guy at Forbes has an opinion, that doesn't make it the gospel truth.

+billion

wait a minute ... if it's on the interwebz it MUST be true .... right ? right ?

Brett_Murphy wrote: I've been saving this picture. Here is me, holding a flounder.

I thought I had the same picture but it was a fluke