GM IPO Filed; $26 To $29 A Share; Are You Going To Buy?
I’ll leave the editorializing to others, since my held-close-to-my-vest opinions run against the grain here. But despite the naysayers that said it would never happen, or at a lower price, it did; or will very soon. And at a price that values GM roughly the same or more (depending on final price) in total market capitalization as Ford. The short-version details: GM will sell about $10 billion in common stock and $3.45 billion in preferred shares. The US Treasury will sell 263.5 million shares, which comes out to about $7 billion. That will reduce its stake in GM to 43%. The UAW will sell 71 million shares, and the Canadian and Ontario governments will sell 30.5 million shares. GM press release here. Now the really big question: Are you going to buy? Here’s my answer:
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Mikey: I believe the Opel Insignia has been in production for some time, so what's to rush. They use turbos also.
"p" Good point about the dollar.
@william442....As I understand it....Opel Europe can't produce and ship enough vehicles to meet North American demand. Oshawa has just added another shift on the Flex/ Camaro line to run Buick Regal, and also Camaro convertible. IMHO I can't see GM risking a shaky launch,at this time. Contrary to popular belief,GM is learning from past mistakes.
Sell short. The IPO intial price of $26 to $29 will fall to HALF that by year-end....