[Politics/Econ] someone smarter than I am please explain this to me

[Aske]

http://www.google.com/finance?q=OTC:GMGMQ

 

[Fuzzy]

Gambling.

Assuming you are referencing the 20% pop, Not your typical bankruptcy so I suppose there are those who have confidence they aren't going away.

[Aske]

Gambling.

Assuming you are referencing the 20% pop, Not your typical bankruptcy so I suppose there are those who have confidence they aren't going away.

It's been stated unequivocally that outstanding shares will *not* be converted to stock in the "new" GM -- whenever that goes public.

The stock under this definition has a future forward value of 0.00 (other than novelty/history value in a museum) .  I mean, hell, I wish I had the nuts to go around day trading it right now, but I really wonder who all the buyers are. (They must think they will find even higher* buyers ?)  I mean at least with the real estate bubble there's a tangible asset behind the self-inflating cycle...  but this is just silly-- trading completely valueless paper in a game of hot potato.  $0.02

[Fuzzy]

Gambling.

Assuming you are referencing the 20% pop, Not your typical bankruptcy so I suppose there are those who have confidence they aren't going away.

It's been stated unequivocally that outstanding shares will *not* be converted to stock in the "new" GM -- whenever that goes public.

The stock under this definition has a future forward value of 0.00 (other than novelty/history value in a museum) .  I mean, hell, I wish I had the nuts to go around day trading it right now, but I really wonder who all the buyers are. (They must think they will find even higher* buyers ?)  I mean at least with the real estate bubble there's a tangible asset behind the self-inflating cycle...  but this is just silly-- trading completely valueless paper in a game of hot potato.  $0.02

Yep - Gambling.

You're right about converting the existing stock. That's standard. Bondholders will try to get paid.