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GM Shares Continue to Sputter

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  • Description

    Zega Financial’s Jay Pestrichelli says he would not buy the American auto maker.

  • Duration 2:20
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I say some things not ride -- government motors GM.

Global marketing chief jolt they want to.

Has been ousted that -- Sunday.

Of -- high level executives been replaced that was last week there's been a surge in GM's in the house call loans going to sub prime borrowers.

The stock is hitting new lows from Omaha we bring in JU Petrocelli who -- got financial.

By.

GM stock right now below twenty box.

Hey good morning spirit yet another this stock has been on a downward move since that I care of that.

In that November 20 -- -- -- and then and now the answer is no I think that they're gonna experience.

Quite a bit of pressure from the European markets I think 70% of GM sales are not.

Held it in North America cited its its going to be rough sledding I think for quite awhile and even if they.

Meet those earnings estimates that I think you've been been lowered slightly recently I think they're gonna they're gonna guide -- downward looking forward.

I'm I'm not looking for a judgment on the bailout but this is not a good judgment on the bail out how to -- -- -- you're in the financial side of things on looking more the political and economic side of things.

The way tomorrow we got -- our sales figures.

Could show GM's market -- in America shrinking some mall the earnings report comes out Thursday.

Not wanted to be Stella.

And the government still owns 500 million shares of General Motors we need to get the share price to 53 -- we can Solomon get the money back.

So at the same time album -- Chrysler today came out with a a pretty good report sharply increasing their profits GM is just not doing well.

-- Yet current Chrysler had a nice I think and I surprise.

But I think GM has a more of a profile like Ford where so many more of their sales are off -- -- the US.

And you're right the US Treasury Department owns 32% of this of this company and -- there's quite a way to go before before the taxpayer gets gets their money back in you know it almost seems non patriotic to say this is not a good -- but.

You know unless you're gonna go in and hedge and we do a lot of hedging and our firm unless you're gonna -- and build a nice hedge protected position this is a tough one to own really.

All right -- you're telling it how you see it and we appreciate that George.

Wouldn't touch GM with a ten foot pole and quotes thanks very much -- we got more on General Motors come.

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