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GM shares slide after Morgan Stanley downgrade on EVs, 2022 guidance

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A General Motors sign is seen during an event on January 25, 2022 in Lansing, Michigan. – General Motors will create 4,000 new jobs and retaining 1,000, and significantly increasing battery cell and electric truck manufacturing capacity.

Jeff Kowalsky | AFP | Getty Images

DETROIT – Shares of General Motors tumbled in early trading Tuesday, opening at their lowest point since September after Morgan Stanley downgraded the company’s stock.

The Detroit automaker’s 2022 guidance was “well below our forecast,” Morgan Stanley top automotive analyst Adam Jonas wrote in an investor note, dropping the shares from overweight to equal weight. He also noted concerns over the pace of GM’s transition to…



Source cnbc.com

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