Why GM Stock Dropped Today
General Motors (NYSE: GM) stock is down today, and it might have rival Ford Motor Company to thank for that. GM shares lost as much as 4.5%, and were still off by 2.6% as of 3:10 p.m. ET.
Both GM and Ford have been accelerating plans to add electric vehicles (EVs) to their product lineups. GM has said it will convert its entire fleet of light-duty vehicles to be emission-free by 2035. Today, Ford announced layoffs that investors may be seeing as an indication of the changes that business decision will spur. Potential future layoffs for GM may be giving investors a feeling of uncertainty of what's to come. Investors never like uncertainty.
Source Fool.com
