General Motors (GM) Riding High With IPO & Chevy Volt

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08:45:10 pm on November 17, 2010

It seems like just yesterday that General Motors (GM) was “Government Motors” and relying on you and I to remain afloat.  Ah what a difference a couple years can make.  As is the case with most of the major auto manufacturers, General Motors (GM) has experienced a resurgence with an expected $2 billion in profits in Q3, culminating in an IPO which priced tonight well above the expected range of $26 – $29 at $33/share.  With the offering bringing in about $23 billion, it will go down as the biggest IPO in US history, just ahead of the Visa (V) IPO a few years ago which brought in about $18 billion. 

==> Click Here For Your FREE Daily General Motors Technical Analysis

Adding to the excitement will be the launch of the electric Chevy Volt later this year.  General Electric (GE) has already said it will buy 12K of them giving the company a boost out of the gates.  Winning the 2011 Motor Trend Car Of The Year award doesn’t hurt either!  Motor Trend calls the car a “game changer”.

I’ve had a few questions from readers recently asking about my thoughts on this IPO and my answer doesn’t change from IPO to IPO.  I always wait AT LEAST two weeks and let the stock define support and resistance areas.  If there is definition, I wait for a breakout from the range and then consider a position.  You’ll be seeing more coverage of the Chevy Volt here at GreenStocksCentral.com now that the company has gone public. 

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Comments  

BEEN BUYING GM CARS & TRUCK SINCE 1960. BOUGHT MY LAST ONE 11 4 10 SINCE YOU SOLD ALL YOUR STOCK TO YOUR WALL STREET FRIENDS JUST SELL ALL YOUR CARS TO THEM .WE WILL BUY FORD CARS&STOCK. FROM NOW ON.

 

The Leaf has photo-voltaic panel in the roof to power up the A/C. Volt should add this as an option. Would you strongly suspect that big-box stores and upgrade merchants will soon offer free recharge as you shop just to attract upgrade consumers who have net-worth enough to buy the volt or the Leaf? It will make good business sense for the vendor to offer this. When enough do then volt owner can drive without any fuel costs.

 
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