General Motors shares tanked again Thursday as a possible issue with its airbags added to negative concerns over the auto workers strike for the limping legacy American automaker.
Key facts
The Wall Street Journal reported there are 20 million General Motors vehicles with airbag inflators that the government recommends recalling, potentially setting the company up to absorb a massive cost for replacements and repairs, though the company told CNBC it does not expect to recall more than the one million cars it already did for the issue.
Shares of General Motors slid 2.3% to $30.31 in Thursday trading, underperforming the S&P 500’s 0.1% slip and rival Ford’s 0.6% decline.
That’s their lowest closing share price since October 6, 2020.
https://www.forbes.com.au/news/investing/general-motors-stock-slides-to-3-year-low/