Why General Motors Stock Sunk Today
Portfolio Pulse from Ryan Gustafson
General Motors Company (NYSE:GM) shares are trading lower following a report suggesting the company has at least 20 million vehicles with potentially explosive airbag parts. The National Highway Traffic Safety Administration (NHTSA) is considering a recall. This news, along with the ongoing United Auto Workers strike, has put pressure on General Motors stock, which is down 23.19% over the past three months.
October 05, 2023 | 6:33 pm
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General Motors stock is trading lower due to a report of potentially explosive airbag parts and the ongoing United Auto Workers strike. The stock is down 23.19% over the past three months.
The report of potentially explosive airbag parts in 20 million vehicles is a significant issue for General Motors. This, coupled with the ongoing United Auto Workers strike, is putting pressure on the company's stock. The National Highway Traffic Safety Administration's potential recall could further impact the stock negatively.
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IMPORTANCE 80
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