Author Topic: GM - General Motors  (Read 588474 times)

fareastwarriors

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Re: GM - General Motors
« Reply #1670 on: May 21, 2019, 08:59:55 AM »
https://www.wsj.com/articles/gms-car-sharing-business-to-end-service-in-eight-of-its-17-north-american-cities-11558382917

Oh just another example of ambitious managements shunning boring old share repurchases to pursue some unnecessary business venture that ultimately incinerates capital...

I use Maven on the Gig side, not car sharing. I think it's a good service. If they can't make money renting their Chevy Bolt to me at $290 a week, I don't know what else to say.


Gregmal

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Re: GM - General Motors
« Reply #1671 on: May 21, 2019, 09:27:31 AM »
https://www.wsj.com/articles/gms-car-sharing-business-to-end-service-in-eight-of-its-17-north-american-cities-11558382917

Oh just another example of ambitious managements shunning boring old share repurchases to pursue some unnecessary business venture that ultimately incinerates capital...

I use Maven on the Gig side, not car sharing. I think it's a good service. If they can't make money renting their Chevy Bolt to me at $290 a week, I don't know what else to say.

I dont doubt that there is potential here; I dont think any company goes into a venture knowing its a bad idea but does it anyway. My point was moreso to highlight just another example of how a company takes on a riskier venture rather than just keeping it simple and buying back stock.

Gregmal

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Re: GM - General Motors
« Reply #1672 on: May 22, 2019, 10:57:07 AM »
This is just the gift that keeps on giving.....

Ahab

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Re: GM - General Motors
« Reply #1673 on: May 22, 2019, 11:12:17 AM »
I sold out of my position in the B-warrants early this morning. Even though I have a positive long term outlook on the stock (particularly related to Cruise Auto), I think the trade war & SAAR worries will slam the stock some more this year. Looking to establish a position in the Jan 21' LEAPS at a later point..
Long: FNMAT, FNMAN, FMCCL, FMCKO, BAC, JPM, GOOG, JD, MO/PM
Short: PCG, TSLA
Twitter: AhabValue

Gregmal

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Re: GM - General Motors
« Reply #1674 on: May 22, 2019, 11:43:59 AM »
I dont disagree. I just have zero confidence in Barra doing anything remotely useful in terms of capital allocation. She is ruining whatever benefits may come from running the business in a respectable fashion. The CEO of a public company should not be clueless when it comes to handling that side of the company.

Ahab

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Re: GM - General Motors
« Reply #1675 on: May 22, 2019, 01:42:29 PM »
I totally agree. It's really disheartening that they have not conducted a larger buyback. In my thinking, conducting sizable buybacks and highlighting the value of Cruise are the two major levers for management to finally push this stock higher.
Long: FNMAT, FNMAN, FMCCL, FMCKO, BAC, JPM, GOOG, JD, MO/PM
Short: PCG, TSLA
Twitter: AhabValue

JRM

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Re: GM - General Motors
« Reply #1676 on: May 22, 2019, 05:11:00 PM »
I threw in the towel (sort of) yesterday, so now is probably the time to buy.  I sold a $35 and $40 strike calls against 2/3 of my position and used the proceeds to buy $30 strike puts against my full position (Jan 2021 expiration); slightly below my original cost basis a few years ago of $32. Worst case scenario I can get out for slightly less than I got in for and collect dividends for 5 years.  Best case 1/3 of my current position goes to infinity and beyond.

hyten1

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Re: GM - General Motors
« Reply #1677 on: May 23, 2019, 01:40:09 PM »
Watch Cruise’s self-driving cars perform 1,400 unprotected left turns in 24 hours

https://www.theverge.com/2019/5/23/18637358/cruise-gm-self-driving-unprotected-left-turn


RadMan24

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Re: GM - General Motors
« Reply #1679 on: May 23, 2019, 06:26:03 PM »
"SAARs may fall off a cliff" & "They're not doing enough buybacks" should not be in the same sentence.