Getting Ahead of GM
General Motors (GM) is out with earnings before the bell Thursday. That gives you all day tomorrow to mull your move with the automaker. But the guys already know the trade, and there’s a consensus: don’t buy GM ahead of earnings.
Eric doesn’t understand why automakers always blame high gas prices when their stocks are down. He says it’s just an excuse and if oil was really the issue, these companies would hedge themselves appropriately.
Guy thinks GM is nothing but an “unmitigated disaster” expect for its Saturn division. He’s hated this stock for a while and he certainly isn’t going to recommend buying it before it reports.
And rounding out the GM bears is Jeff Macke. His words of advice to the company:
“Stop making 8,000 pound cars.”
| Price | Change | %Change | ||
|---|---|---|---|---|
| GM | --- |
“Stop making 8,000 pound cars.”
Questions? Comments? fastmoney@cnbc.com
Trader disclosure:
On May 1, 2007, the following stocks and commodities mentioned or intended to be mentioned on CNBC’s Fast Money were owned by the Fast Money traders:
Bolling Owns (DIS), (NMX), Gold, Silver; Karen Finerman’s Firm Owns (BBI); (ISE), (DVA), Finerman’s Firm Owns S&P Puts, CNBC Is A Service Of NBC Universal And Dow Jones.
