Why General Motors Stock Is Down Today
Shares of General Motors (NYSE: GM) were trading lower on Friday morning following the abrupt departure of Daniel Ammann, a longtime GM executive who was most recently CEO of GM's important Cruise self-driving subsidiary.
As of 10:30 a.m. ET, GM's shares were down about 6.4% from Thursday's closing price.
Auto investors were surprised by the news of Ammann's departure, which was announced by GM in a terse press release after the U.S. markets closed on Thursday. Ammann, a former Morgan Stanley analyst who joined GM after it emerged from bankruptcy, had become a stalwart of CEO Mary Barra's senior team and the leader of its self-driving efforts.
Source Fool.com
