My believe it is because GM closed the deal with the sale of Saturn to Penske. It is to close by/at the 3q. GM will continue to produce the Saturn cars on a contract basis, which means revenue for GM while Penske has to sell the cars and assume the risk of inventory. GM does NOT have to maintain an inventory while Penske assumes the risk of selling Saturn cars in the retail market.
Reported today in the last hour (s). Dowjones.
Bottom line: Revenue (now profit) for GM and the Saturn Brand sold to Penske. Saturn was a money trap for GM. Now no longer.
BTW, in the end, commons will be worthless.
I almost sold this morning at the gap until I saw the news re: Saturn sale. I will sell soon though. Too risky to hold to long.
imo
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