Anyone buying GM stock?

Question

What is your opinion, buy now or watch GM sink?

Answer 1

Sink.  They will have TONS of SUVs coming off lease that customers will not buy; GM will be stuck with them and unable to sell them at their balance sheet prices, so there will be huge write-offs still to come.  In fact, many of these vehicles may simply be crushed or scrapped.

Answer 2

Someone must be.  88 million shares were bought by someone on July 1.   I can think of only one stock I would least like to buy--Ford.

Answer 3

It will sink. The company is unprofitable

Answer 4

Watch GM sink.  No doubt.

Answer 5

GM was recently downgraded to critical sell or underperform. Both of these ratings derive mainly from the fact that GM has a lot of outstanding issues on their plate, which has not only placed a lot of downward pressure on GM, but the entire US automobile industry. As I was reading from one of the other answers, correctly, is GM's heavy leveraging in the SUV / medium duty market. Most of the auto makers are in dire straits in this sector. Ford and Chrysler are also having to adjust their manufacturing and marketing plans to try and salvage their balance sheets, this will not be easy. Toyota and   Nissan are the top performers right now, understandably. It could take GM and the other US automobile makers up to 3 years to show any signs of recovery. This could be a good time to be patient and take a wait and see approach if you are just looking for a buy opportunity, I would divest myself of 2/3rds of my GM and look to alternatives in energy and foreign tech stocks. Hope this helps

Answer 6

Keep a real close eye on GM for a great example of how unions destroy companies. GM is going to sink. Their union workers turn out products that dont last, are expensive and have the worst repair costs over the long term. The US auto makers have a model of making products that are meant to be replaced every 5 years. The imports on the other hand are good for between 10 to 25 years with lower maintaince and repair costs over time. Quality is what counts, not quantity. GM is goin to find this out the hard way. And the union workers will pay a heavy price in the unemployment line for thier destructive work ethics.