GM, Ford shares tumble after UBS downgrades cite weakening demand


The General Motors world headquarters office is seen at Detroit’s Renaissance Center.

Paul Hennessy | LightRocket | Getty Images

DETROIT — Shares of General Motors and Ford Motor each tumbled Monday after a pair of UBS downgrades citing expectations for weakening demand amid inflationary pressures.

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…


0 0 votes
Article Rating

U.S. should pump more oil to avert war-level energy crisis: JPMorgan’s Jamie Dimon

Previous article

Lyft president still thinks driverless cars will dominate ride-share

Next article

You may also like

Notify of
Inline Feedbacks
View all comments

More in Autos