GM stock down 20%, hope this doesn't affect production schedules! - ModernCamaro.com - 5th Generation Camaro Enthusiasts
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post #1 of 10 Old 10-09-2008, 10:04 AM Thread Starter
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GM stock down 31%, hope this doesn't affect production schedules!

What is up with these traders? Do they really believe that less people with bad credit financing new cars is such a bad thing?

Last edited by weland; 10-09-2008 at 05:32 PM.
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post #2 of 10 Old 10-09-2008, 10:10 AM
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To me, the problem is that banks are scared to loan money. Look what's happening to California. They rely on bank loans month to month, and the banks are afraid to loan to the State. So, if banks are getting picky, then car sales will go down, because not as many people will get loans to get new cars. Add on top of that, that people are nervous in the current economy, and so they may wait an extra month to buy a car, then that drops current sales as well.

So investors see all of this, and don't invest, or sell stock. The stock drops, and people get scared and sell more. That's the real scary part, once stocks drop, it's harder to get people's confidence back in them enough to buy. They have to start going up again, or there has to be the feeling that they will go up before people will buy significantly enough to affect it.

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post #3 of 10 Old 10-09-2008, 10:13 AM
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if the media would just STFU about if for a day or two it would do some good. We're not all going to be living in caves any time soon.

2010-2SS/RS/LS3/IBM/RP6: ECS-Paxton Supercharger / American Racing Headers & Exhaust / PFADT Suspension / DSS 9" 4.10 Rear / FOR SALE!

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post #4 of 10 Old 10-09-2008, 02:15 PM
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The media CAN'T stfu, because they like to hear themselves talk, and now they have 24 hour channels that they have to fill with MORE BS.

2010 Stock IBM 2SS/RS

I found $80 in my jeans pocket. The kid in me said "buy nerf guns and candy!" But then the adult in me said "buy vodka, nerf guns and candy!"

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post #5 of 10 Old 10-09-2008, 02:15 PM
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Finally the nation starts to see living on debt is not the best idea

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post #6 of 10 Old 10-09-2008, 05:34 PM Thread Starter
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Down 31% for the day. OK, now the only explanation is FEAR. Investor fear is driving this BS. I'm not losing my shirt over any of this, but I guess some people are concerned about losing their vacation homes in Malibu.
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post #7 of 10 Old 10-09-2008, 06:25 PM
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wonder if i should buy some GM stock yet. . . Might go down a little lower stil.

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post #8 of 10 Old 10-10-2008, 12:07 PM
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As of today you can buy GM stock for $5 a share.
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post #9 of 10 Old 10-10-2008, 12:10 PM
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Quote:
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As of today you can buy GM stock for $5 a share.
So I guess that means it's going up....it was at $4.XX yesterday.

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post #10 of 10 Old 10-10-2008, 12:13 PM
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the govt buy-out plan doesn't even start until the 17th (i think)...so once that kicks in, credit should start to improve and the market should follow. We're hitting rock-bottom in the mean time. If you're feeling daring...it's a good time to invest.

2010-2SS/RS/LS3/IBM/RP6: ECS-Paxton Supercharger / American Racing Headers & Exhaust / PFADT Suspension / DSS 9" 4.10 Rear / FOR SALE!

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