[DManA]

No can accurately price this since GM admits in the prospectus you can’t trust their books.

[All Blue State]

What about the stock that was owned previously? Did the buy out the stock holders? If not, than don’t they still own stock?

[mojito]

"In its recent IPO filing, GM said it's been working on improving its accounting procedures, but as of June 30, "our disclosure controls and procedures were not effective at a reasonable assurance level."

Translation: We have no idea how much money we spend or where we spend it. We're clueless.

http://news.yahoo.com/s/ap/20101115/ap_on_bi_ge/us_gm_ipo_red_flags

[SAJ]

I've NO doubt that you're quite right. Would it not seem reasonable, therefore, to hit this IPO from the short side?

As an ordinary thing (and, granted, this IS NOT an ordinary case), the Chicago Board Options Exchange begins making markets in options on new issues, esp. high-profile ones, typically within a month of the new issue coming out.

Does this give you any ideas? (And, no offence, if you are NOT an options trader, it may not give you any ideas...but for some of us, it distinctly does).