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Originally Posted by 1.7El_guy
if gm doesnt file for bankruptcy and gets out of this one, your friend will most likely get his money back and maybe more. if it files that chapter 11, the stock will be worth pennies..as it stands, the price of gm is in the middle of that $1.90 entry point and the pennies.
to assess this, do your friend believe theres more than 50% chance of not filing for chapter 11? baccarat is close to 50/50 in the casino so maybe thats a better choice. good luck as i think time is running out for your friend.
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oh well, its not entirely 50/50. cuz the time he bought the shares are GM just closed a deal with UAW and offering bondholder shares in exchange of debt, which was good signs that GM can still keep up. ......