GM Stock Slides To Fresh Post-Bankruptcy Lows

Tyler Durden's picture

Of all curious correlations we could find to demonstrate the collapse in GM stock, which opened for trade back in November 2010 at $35, and just hit an all time post-IPO low at just over half its IPO price, the best one that exemplifies the second great collapse of GM is the amount of dealer inventory, aka channel stuffing, shown on an inverted axis: the lower the price of GM, the more the channel stuffing. Of course, nobody could have possibly predicted that. Just like nobody could have predicted that Greece will need a third bailout, let along hit the IMF goal of 120 debt/GDP in 2020.

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slaughterer's picture

How much is Berkshire Hathaway underwater on their GM position?  Uncle Warren violated some of his own best investing principles when he drank the "Buy America" Koolaid and bought into GM.

Buckaroo Banzai's picture

Did you know that "General Motors" in russian is..."General Motors"?

I dunno, I thought that was pretty funny.


Pladizow's picture

Whats the opposite of the Midas touch?

Atlas_shrugging's picture

wow a final minutes ramp in ES... go figure

TruthInSunshine's picture

I'm going to wait to the channels really get stuffed to the gills and then buy a vehicle that's suitable for hauling barbarous relics, but only if it is 80% off government mandated MSRP and carries a lifetime powertrain warranty backed by Geithner.

On second thought, I've discovered one of the keys to being as free as possible under the circumstances; don't buy shit you don't need, no matter how enticing the department of marketing & treasury appears to make "a deal."

So, I'll continue to use the tools I've already accumulated in a productive fashion, rather than add/accrue unecessary and capital draining (no matter how heavily subsidized/discounted) consumables.

smlbizman's picture

the opposite of the midas 'bout the bloomberg headline all day that "investors" dump gold to buy corn and that close....

and how the fuck can they make that correlation....

and can somebody answer who is floorplanning all the dealer inventory?

El Oregonian's picture

...It's called "Cash for GM Junkers".

MBOB's picture

The Crapper touch, in honor of Mr. Crapper, inventor of the water closet.

MBOB's picture

The Crapper touch, in honor of Mr. Crapper, inventor of the modern water closet. 

Chuck Walla's picture



~ Braack Hussein Obama


or was that Lenin...

Dr. Engali's picture

Shit when hasn't he violated them over the course of the last four years?

dmger14's picture

Yes he did.  But he's old now and operating under different principles than when he was younger.

El Oregonian's picture

Serves him right. It couldn't happen to a nicer guy.

rbg81's picture

But I thought Obama "saved" GM??  Oops, maybe a little too early to break out the champaigne?

max2205's picture

$19 looked good on the chart till it didnt

Buck Johnson's picture

Trust me soon GM will have to either file for another "bankruptcy" and/or get another govt. bailout.  There stock is getting to low.

Blano's picture

They'll just do a 5 or 10-1 reverse split.  Problem solved.

FreedomGuy's picture

My company just rolled over its entire fleet of company vehicles to switch to Malibu's. We turned in virtually new cars just drawn from fleet. In several decades in my industry dealing with fleet vehicles I have never seen this. It has to be incredibly expensive which means to me that Government Motors is offloading its inventory at at super low price. They are in essence dumping, probably at a loss. I suspect they are still in trouble.

BTW, the Malibu's do not get anywhere near their rated mileage in my experience. I usually beat the rated mpg in most vehicles.

Freddie's picture

Uncle Samil El-Hussein Obam backstops every Buffet investment.   Warren does not lose on anything.


zero19451945's picture

Is this a rare case of the "market" actually working? Or is GM being a turd obvious to even the HFT machines?

sessinpo's picture

Or maybe it is that whatever Obama touches, turns to shit. Not that I would want to insult our First Lady, but maybe someone ought to consider wrapping her up in one big depends diaper.

Hedgetard55's picture

What makes you think... oh, never mind.

Buckaroo Banzai's picture

They don't call her "Moose Hell" for nothin'!

Meesohaawnee's picture

is it me or did ben turn the algos on? hes 10 minutes late

Mrmojorisin515's picture

I was thinking, isn't it funny that autoplants didn't shutdown for the summer and we have a presidential election this year?

knukles's picture

They're busy building more Volts for the Greater Good of The Free People's Democratic Republic of Humerikah

One more Volt
One more Volt
One more Volt

(wondering if Volts come with a get out of Gulag free card?)

veyron's picture

It's a giant circlejerk: we bail out GE, GE agrees to buy GM cars, all is well!

francis_sawyer's picture

Volt early... Volt often... Oh wait!

ParkAveFlasher's picture

Sadly enough, I'm sure its workers have been sold on some kind of "we can do it!" initiative and handed over salary, benefits, etc in exchange for stock holdings.  In fact many probably had no choice.  Oh wait

knukles's picture


Most of the fucking stock was stuffed in the UAW penion palns
So when they go belly, the PBGC takes 'em over and we, the taxpayer get fucked, again.


jerry_theking_lawler's picture

I sh*t you not....this is real.

Go to my local post office (small with only a post master....that is a waste upon itself). I'm in my late 30s and have used this post office most of my life. What do I see setting next to the building......a shiny new GM car with .gov plates. I asked the postmaster if that was a new 'carrier car'. PM said nope, it was 'their' car for taking care of official USPS business. What! This PM drives their personal car to work, drives the .usps car to lunch and back, then their personal car home. That is it.

This PM has never had their own private car. This was simply a way for the failing USPS to support the failing GM.

If people would only open their eyes and see what really is happening, especially to their kids and grandkids, they would revolt.

Freddie's picture

Hope & Chains - muslim style with El-Barry.

smiler03's picture

What a great link! No fault of yours but the website insists on a valid zip code. If you don't know one, you don't get in. I'm in the UK and I certainly can't be bothered to find a "valid zip code", fuck Chevrolet!

GeezerGeek's picture

If reelected, or otherwise retained in office, Barack Obama will issue an executive order imposing a tax on anyone not owning a Volt. Waivers will be granted to union members and select others.

Blano's picture

Those new Volt ads where people brag about saving money on gas after paying thousands extra for the car are downright revolting.  Especially the broad who says she's saving her money for a trip to Hawaii.  Spend spend spend!!!

CunnyFunt's picture

PPT to the rescue @ 1524

Stoploss's picture

Gold goes up, euro goes up, and dollar goes down, all at the exact same time.

Really?? Potter?

miker's picture

They don't have any money to buy their stock up.