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