GM's stock hits three-year low amid UAW strike, potential air bag recall
Publishing timestamp: 2023-10-05 13:43:07
Summary
General Motors' stock price fell below $30 per share for the first time in over three years due to ongoing strikes by the United Auto Workers union and a report of potentially costly airbag recalls. The stock decline was also influenced by a Wall Street Journal report stating that GM has at least 20 million vehicles with dangerous airbag parts that should be recalled. The National Highway Traffic Safety Administration is holding a public meeting on the issue. Despite making counteroffers to the union, GM's stock has been negatively affected by the strikes and has only experienced five positive trading days out of 14 sessions.
Sentiment: NEGATIVE
Tickers: GM,
Keywords: detroit, general motors co, breaking news: business, business news, business, transportation, autos,
Source: https://www.cnbc.com/2023/10/05/gms-stock-falls-amid-strikes-potential-air-bag-recall.html