Replies to post #759 on General Motors Corp (GM)

[JPG77]

"They were mentioned on Hannity tonight."

The key word here is "mentioned". All of the automakers including Ford and Tesla are jumping onto the ventilator" bandwagon as they try to hold off the massive drop in price that everyone's expecting. Just shameful.

Just a month ago, GM was almost double the current sp, and it looks very bleak over the next 12-18 months. Glad I got out when I did.

[JPG77]

The really sad part about the auto industry, is this recession is only going to get worse and they're now saying the effects may last 12-18 months. Sadly, it takes too long to retrofit the assembly lines and the staff who have the required knowledge are getting the coronavirus. What's worse is that when the economy does start to improve (assuming it doesn't take again), it's going to take forever for people to pay off their debts, so nobody's going to start buying new cars anytime over the next year or two. The auto industry won't be able to give their cars away, and it's only going to get worse. And what's worse is that EVERY industry is taking a huge hit, and that's going to overtax the government bailout. The biggest concern I'm hearing on the news now is due to the tax filing deadline, the government won't have any money coming in now until mid-July, and that's going to prevent them from helping the all industries including auto and travel. IMO, this is a TERRIBLE time to invest in the auto industry given there's so much expected downside here, but it is a GREAT time to short and make a killing.

GLTU