GM - Why is there any value left to their stock?
Maybe people do see how bad it is but they are relaying on them to get better. I have been tempted to invest there too because I think that it cannot be so bad forever and sooner or later they will have to recover, Ch 11 is a safe place in the worst scenario.
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Seriously, no matter what happens (Ch 7, Ch 11, Prepack or not, even bridge loans) there will be massive dilution. You can see that in the premiums being offered on the puts, why is everyone and their mother not on that side of the trade? No matter what happens, common is going to take a HUGE hit, the gov't is going to get some kind of equity in the deal, and the UAW will prob end up with 20Bil in equity for the pension plan. And thats IF they get the loans/bailout/DIP.
Am I the only one that sees this?