The General Motors IPO sold 478 million shares priced at $33 per share.
It opened today at $35.
It closed today at $34.19
Today's volume on GM today? 452.5 million shares or 94.6% of the entire float.
I love free market capitalism, or was it a big ponzi scheme. I cannot remember which. Maybe I'll ask Warren and Charlie over at Berkshire Hathaway.
Speaking of Mr. Buffett, GM chief Akerson take note. Uncle Sam expects a prompt thank you letter from all its grateful nephews.
Good speculating to you all and please remember to never forget that "an investor is a speculator who made a mistake and will not admit it".
Long 1 unit Direxion Large Cap 3X Bear ticker BGZ @ $19.34
Long 2 units Direxion Small Cap 3X Bear ticker TZA @ $60.30
Long 1 unit Direxion Emerging Mkts 3X Bear ticker EDZ @ $60.50
Long 2 units Direxion Financial 3X Bear ticker FAZ @ $19.65
Long 2 units Ultrashort Xinhua China ticker FXP @ $42.45
Long 1 unit Ultrashort Real Estate ticker SRS @ $49.10
Long 2 units Direxion Tech 3X Bear ticker TYP @ $52.60
Long 1 unit U.S. Dollar Bull ticker UUP @ $22.56 stop @ $21.44
Long 1 unit Powershares Gold Dbl Short ticker DZZ @ $8.38 stop @ $7.84
Long 1 unit Powershares Gold Dbl Short ticker DZZ @ $8.61 stop @ $8.04
Long 1 unit Barclays 20yr Treas Bond ticker TLT @ $95.61 stop @ $94.69