Why General Motors Stock Dropped 5%, Then Rebounded Today
It is earnings season on Wall Street right now, but you can't blame earnings for the sudden collapse in value of General Motors (NYSE: GM) stock earlier today. Instead, it was a negative note from Wall Street banker Goldman Sachs that sent General Motors shares tumbling more than 5% in early trading Monday.
Cadillacs are expensive, but General Motors stock is not. Image source: General Motors.
Goldman announced this morning that it was downgrading General Motors from neutral to sell and assigning the $43 stock a $32 price target. The new target implies more than 26% downside from today's prices.
Source: Fool.com
General Motors Corp Stock
€41.79
0.340%
Our community is currently high on General Motors Corp with 32 Buy predictions and 5 Sell predictions.
As a result the target price of 46 € shows a slightly positive potential of 10.07% compared to the current price of 41.79 € for General Motors Corp.
