Interesting.
It appears that "retail" investors, which means individual public customers, will have a hard time getting any shares. Major retail brokerage firms like E*Trade, Ameritrade, Scottrade, and Charles Schwab are being shut out of access to the offering.
So who DOES get them?
Instead, all the shares will go to the biggest hedge funds and other clients of the biggest investment banks. Many of those funds and banks will simply sell the stock if it spikes 10-20 percent on its first day of trading, as expected.
Can you spell G-O-L-D-M-A-N......?
HT: AmSpec
Subscribe to:
Post Comments (Atom)
1 comment:
The list looks like a who's who of TARP recipients, hedge funds, and foreign interests, including the ChiComs.
Maybe it's best that the general public won't get in on this - not only has Government Motors been dumping inventory on dealers in order to inflate "profits" (they're counted once the cars leave the factory), but the Treasury is forgoing at least $755 million on future "guaranteed" preferred stock dividends to unburden GM of them at a $41 million markup on face value.
Post a Comment