Wall Street worries GM will face a tougher 2023 than the automaker is letting on
Publishing timestamp: 2023-04-28 08:02:10
Summary
Despite beating earnings expectations and raising guidance, GM's shares have dropped nearly 6% this week due to concerns about eroding pricing power, labor issues, and challenges in producing electric vehicles. Analysts are skeptical about the company's ability to perform at previous profitability levels and are worried about the potential for increased labor costs from union negotiations. GM's guidance raise has also been met with surprise and skepticism from some analysts.
Sentiment: NEGATIVE
Tickers: GM,
Keywords: general motors co, transportation, breaking news: business, autos, mary barra, business, stock markets, detroit, paul jacobson, earnings, business news,
Source: https://www.cnbc.com/2023/04/27/why-wall-street-isnt-buying-into-gms-guidance-raise.html