Autos

GM and Ford stock are outpacing high-momentum Tesla shares this month

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After a nearly 400% rally this year, Tesla‘s stock is tapping the brakes. The stock is down 3% this month even after another blowout quarterly report.

That has given traditional automaker stocks time to play catch-up. General Motors has surged 27% in October, while Ford is not far behind with a 24% gain.

That’s not the only way the old-school auto companies are bridging the gap, according to Gina Sanchez, founder and CEO of Chantico Global and chief market strategist for Lido Advisors.

“The problem that Tesla has is that GM, Ford, Volkswagen, they’re all waking up and saying, ‘Hey, we need to get into this [electric vehicle] game.’ And if you look at Europe as a kind of litmus test, Europe…



Source cnbc.com

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