GM stock slides to new post-bankruptcy lows, as stock tanks Obama dealers forced to add inventory for sake of appearances

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7/24/12, "GM Stock Slides To Fresh Post-Bankruptcy Lows," Zero Hedge

"Of all curious correlations we could find to demonstrate the collapse in GM stock, which opened for trade back in November 2010 at $35, and just hit an all time post-IPO low at just over half its IPO price, the best one that exemplifies the second great collapse of GM is the amount of dealer inventory, aka channel stuffing, shown on an inverted axis: the lower the price of GM, the more the channel stuffing. Of course, nobody could have possibly predicted that. Just like nobody could have predicted that Greece will need a third bailout, let along hit the IMF goal of 120 debt/GDP in 2020."

Graph: GM stock prices vs Inverted Axis Channel Stuffing (month-end dlr. inventory), Dec. 2010-June 2012. Dealer inventory increases (right hand side of graph) the farther down you go.

graph from Zero Hedge

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