GM Stock Trading Smells Funny

Am I alone or are there others who believe that the GM stock trading after the IPO last Thursday smells funny.  Whenever the stock drops close to the $33 offering price, sharp buying picks up. Any failure of the price to beat $33 will affect the green shoe option, arguments about using a traditional the method of underwriting, and arguments about bailout losses.  There are many, too many, who have an interest in the stock price holding above $33 to contain my suspicion.  Moreover, after the media splash that China would buy GM stock, we find out that China has decided to only take 1% of less of the offering.   There is manipulation in the wind.  This, of course, adds to my suspicion, that the government will do whatever it takes to make GM profitable — bailouts of pension plans, tax subsidies, product subsidies, are already on the table.

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