While the dip wasn't as dramatic as in weeks past, the Dow did fall less than a point today lead by U.S. automotive stocks that are taking a hit as they seek a government handout from the government. GM is warning that it's running low on operating capital, while Ford's stock is trading at $1.93, down 4.5 percent.
One analyst, Rod Lauche of Deutche Ban, today did something rather remarkable -- set a target price of $0 for GM's stock, downgrading it to sell. (It ended trading today at $3.36. According to CNN Money:
Lache shook up the street by setting a $0 target price target, the only such target by any analyst for any S&P 500 company, according to Thomson Reuters. Lache's note echoed the idea that shareholders stood to be wiped out either way, with a bailout being akin to a bankruptcy as far as shareholders are concerned.
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