GM makes a billion dollars in one day (fees, profit, stocks)
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Why banks make profits also and there were over 400 banks that never paid a cent back to the federal government when they got bailed out either, we don’t hear anyone complaining about that do we, it’s always GM that people remember.
GM hasn't "made" anything. They own 1.6 million shares of Lyft stock that are now worth $1.3 billion based on Thursday's initial valuation of the IPO. The initial investment was $500 million, so IF they sold the stock today they would make roughly $800 million, less broker's fees.
But they can't sell it today. They have to hold the stock six months after the IPO. New stocks often go crazy the first week; it's already jumped to $87 and back down to $77 since trading opened. It could be $50 by next week. Lyft lost $900 million last year, if they project to do that again it could be a penny stock by the time GM can move it.
So thanks for posting a story about nothing of any consequence whatsoever.
Last edited by duster1979; 03-30-2019 at 07:55 AM..
GM hasn't "made" anything. They own 1.6 million shares of Lyft stock that are now worth $1.3 billion based on Thursday's initial valuation of the IPO. The initial investment was $500 million, so IF they sold the stock today they would make roughly $800 million, less broker's fees.
But they can't sell it today. They have to hold the stock six months after the IPO. New stocks often go crazy the first week; it's already jumped to $87 and back down to $77 since trading opened. It could be $50 by next week. Lyft lost $900 million last year, if they project to do that again it could be a penny stock by the time GM can move it.
So thanks for posting a story about nothing of any consequence whatsoever.
But if it were Tesla everyone would be congratulating them but since it’s GM then let’s boohoo them.
GM hasn't "made" anything. They own 1.6 million shares of Lyft stock that are now worth $1.3 billion based on Thursday's initial valuation of the IPO. The initial investment was $500 million, so IF they sold the stock today they would make roughly $800 million, less broker's fees.
But they can't sell it today. They have to hold the stock six months after the IPO. New stocks often go crazy the first week; it's already jumped to $87 and back down to $77 since trading opened. It could be $50 by next week. Lyft lost $900 million last year, if they project to do that again it could be a penny stock by the time GM can move it.
So thanks for posting a story about nothing of any consequence whatsoever.
Quote:
Originally Posted by SVTLightning
Thats sort of an FU to the tax payer imo.
Indeed! -- the figures are meaningless, but not to the economic preschoolers who think that wealth is just cash sitting in a vault ready to be confiscated, nor to the masters of deceit ready and willing to pander to them.
But if it were Tesla everyone would be congratulating them but since it’s GM then let’s boohoo them.
No not everyone is booing them. If they invested their money they have as much right to prosper as anyone who invests their money. I may not care for their product offerings, but I have nothing against them making money. Hell I bought GM stock when they were n the dumpster and made money off their eventual prosperity.
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