Calyon, a research and banking arm of Credit Agricole, believes that GM only burned through $500 million in cash in its automotive operations in Q4. That would be better than most Wall St. expectations.
If Calyon is right, GM’s (GM) stock could be in for another ride up. After big gains in 2006, the shares are up 11% so far this year, compared to the Dow, which is flat.
Banc of American downgraded GM’s shares early in January from "neutral" to "sell".
That may end up being an embarrassing move.
Douglas A. McIntyre can be reached at [email protected]. He does not own securities in companies that he writes about.
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