The General Motors world headquarters office is seen at Detroit’s Renaissance Center.
Paul Hennessy | LightRocket | Getty Images
Ford’s stock was down by more than 8% during intraday trading before closing at $11.37 per share, a decline of 6.9%. GM was off by as much as 7.5% before closing at $32.29 per share, down by 4%.
Both GM and Ford shares are off about 45% year to date. Both companies have a market capitalization of just under $50 billion.
UBS analyst Patrick Hummel wrote in notes to investors Monday that he…