General Motors, a company that was once "like a rock," seems to be more like a stone sinking in water. Shares are down to levels not seen since the early 80s.
Why is America’s largest carmaker breaking down? Gasoline prices are soaring, they have sky-high pension costs and the nation is struggling with a looming recession. As a result the Cadillac-maker looks ready to drive off into the sunset.
Even noted surgeon Kirk Kerkorian could not save this sick Dow component. It’s bound to be tough medicine, but what’s the treatment for getting GM shares out of triage?
Here’s Tim Seymour’s strategy:
1. Close UAW trust deal
2. Jumpstart hybrid program
3. Forget the U.S.
4) GM needs to go EM
Traders what do you think?
I don’t think GM is a fast money trade but maybe its slow money, speculates Guy Adami.
I’m not sure they can pull it all off, counters Jeff Macke.
Winning the hybrid market will be the key, says Jon Najarian.
I think GM is a buy because its number one in India, Russia and Brazil, adds Seymour. They are making money around the world.
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