• 10 Nov 2008 at 12:24 PM

DealBreaker Cuts GM Price Target to -$5.50…

By Equity Private

…that should get it to trade at around $2.15.

General Motors Corp. plummeted as much as 31 percent after a Deutsche Bank AG analyst downgraded the shares and cut the price target to zero.
GM lost $1.03 to $3.33 at 11:05 a.m. in New York Stock Exchange composite trading, after falling as low as $3.02. Ford Motor Co. dropped 11 cents to $1.91. Detroit-based GM said Nov. 7 it may not have enough cash to operate this year.

GM Plummets After Analyst Cuts Price Target to Zero [Bloomberg]

Comments (23)

  1. 1
    Posted by guest | November 10, 2008 at 12:27 PM

    So the gubiment is going to own GM, Ford and Chrysler and AIG! Wow, what a conglomerate.

  2. 2
    Posted by Anal_yst | November 10, 2008 at 12:31 PM

    Market just pricing in the possibility that the Gov’t won’t do the right thing, i.e. wipe out the equity holders when they inevitably fold to the UAW/etc and throw more $ at the problem.

  3. 3
    Posted by guest | November 10, 2008 at 12:38 PM

    GM + Ford = $1.00 by Jan 20th
    The money train has stopped running,
    Obama

  4. 4
    Posted by guest | November 10, 2008 at 12:40 PM

    mayo?

  5. 5
    Posted by guest | November 10, 2008 at 12:42 PM

    @4 Totally

  6. 6
    Posted by guest | November 10, 2008 at 12:44 PM

    My GM has a “Rolls-Knardley” motor in it. Rolls down hills and knardley get up the other side.

  7. 7
    Posted by guest | November 10, 2008 at 12:45 PM

    Definitely mayo.

  8. 8
    Posted by guest | November 10, 2008 at 12:47 PM

    Hey Detroit – get your handbasket ready
    Will find out when you can catch the next departure to hell

  9. 9
    Posted by guest | November 10, 2008 at 12:58 PM

    Thought Detroit was already considered a part of Hell.
    Gotta love the moral hazard trade.

  10. 10
    Posted by carl spackler | November 10, 2008 at 1:18 PM

    Don’t count out Detroit just yet – rumor has it there’s a hybrid Pinto coming that is awe-inspiring, especially in metallic pea………

  11. 11
    Posted by guest | November 10, 2008 at 1:19 PM

    #2 FARTHING
    A Christmas wish for you. Bet your journey arrives at a non-union job that pays $8.00 an hour with no benefits, faggot!
    The UAW didn’t bring any goddam down.
    a. Building bullshit on wheels,
    b. Public whores of Babylon taking payoffs for $3.00 gas (should be $.60)
    c. Daring to sell $35,000 vehicles to someone living on less than $20,000 a year.
    This busted sim of an Earth isn’t fit for human habitation with the likes of you running it, you big Ape.
    DROP DEAD.

  12. 12
    Posted by guest | November 10, 2008 at 1:19 PM

    ROBOCOP
    That all I have to say,
    ROBOCOP
    oh yeah
    OCP

  13. 13
    Posted by guest | November 10, 2008 at 1:24 PM

    @11
    Huh?????

  14. 14
    Posted by Anal_yst | November 10, 2008 at 1:29 PM

    second #13, #11 wins the award for most incoherent commentst I’ve read this month (if not year).
    Congratuations on your momentous achievement!

  15. 15
    Posted by guest | November 10, 2008 at 1:48 PM

    #11
    Perhaps you could take some of that do nothing pay you get because of the UAW and take ESL classes. In addition to teaching you to say “Bud Light” you would get to interact with some folks who actually would like to work for a living.

  16. 16
    Posted by guest | November 10, 2008 at 1:55 PM

    13 & 14
    Slobs,
    You must have graduated from MIT
    Sloan School Management
    I keep telling you, this Earth ain’t real, and you know it Gods!

  17. 17
    Posted by guest | November 10, 2008 at 2:05 PM

    All I hear is crying and the gnashing of teeth.

  18. 18
    Posted by guest | November 10, 2008 at 2:11 PM

    @16 Some thoughts about time as a dimension, since it appears you have lots of time available…
    http://books.google.com/books?id=95vK-IOyIREC&dq=time+as+a+dimension&pg=PP1&ots=uJ5DzTk3tR&source=in&sig=kmjClZRsa7ETB3PBtTxGuQc8LL8&hl=en&sa=X&oi=book_result&resnum=11&ct=result#PPA2,M1

  19. 19
    Posted by guest | November 10, 2008 at 2:31 PM

    too prophetic, didn’t read

  20. 20
    Posted by guest | November 10, 2008 at 2:58 PM

    Exxon/Mobil = $1.00 by Jan 2010
    YES I CAN and will do this to you, Honkey
    B.Obama, President-Elect

  21. 21
    Posted by guest | November 10, 2008 at 3:29 PM

    @11 – Wow. Just two words; “Anger Management”.
    TOGFD

  22. 22
    Posted by guest | November 10, 2008 at 7:18 PM

    I’m hearing Bear Stearns is in trouble.
    - Deutsche equity analyst

  23. 23
    Posted by guest | November 10, 2008 at 7:52 PM

    17 – The only crying and gnashing of teeth is by GM Stock holders.
    What piece of the rock did you get burned with?
    16 – Kaku’s 10th dimension is the snot dripping out of his nose!
    21 – A 6 letter word for Larceny
    is Prison
    quote from ‘The Bank Dick’ same guy Mahatma Jane Keeves also wrote ‘Never Give A Sucker an Even Break’

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