GM stock is up 50% today

[mikebw]

Of course it's still down a lot overall, but that's an amazing jump for one day. http://finance.google.com/finance?q=NYSE:GM

[ztirffritz]

...so it is now $.02/share?

[OWC Jamie]

Citibank OK'd a loan on one ?

[samintx]

I bought a fist full of Citigroup a week ago when it was 3.00. Going against my advice to someone not to buy GM. Now I have a nice profit and don't want to sell too soon but don't want to be a pig either.

[JPK]

Up 50% still doubles your money no matter what the price of the stock!

.02 to .04 still doubles your money.

$10 became $20
or
$10,000,000 became $20,000,000

I don't have the balls to put any $$ into GM right now.

JPK

[threeprong]

samintx wrote:
I bought a fist full of Citigroup a week ago when it was 3.00. Going against my advice to someone not to buy GM. Now I have a nice profit and don't want to sell too soon but don't want to be a pig either.

I always sell and cover my investment and let the rest be "Magic" money.

[pdq]

Up 50% still doubles your money no matter what the price of the stock!

Well, not exactly. Up 50% would be if a stock was at 2.00 (the denominator) and went up 1.00 (the numerator) to finish at 3.00.

The plus side to this kind of math is that if the stock drops back down to 2.00 tomorrow, it's only a 33% drop.

50% gain, 33% drop. You could get rich that way.

Or not.

[sekker]

twice nothing is still nothing...

GM is a dead man walking

I've never seen a worse corporate leadership group - even Apple's before Jobs' second tour of duty.

[Grateful11]

It finished up 37%, Ford was up 29%. I might make something off of
that 100 shares of GM and 200 shares of Ford we just bought after all.