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Last updated 7:59AM ET
March 1, 2021
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Auto Stocks
(wgvu) - Shares of General Motors Corp. and Ford Motor Co.
have tumbled to new 52-week lows.
The stock prices shot down Monday morning amid continued rising
fuel prices and the possibility of poor sales numbers for June when
results are released Tuesday.
GM shares hit $10.57 shortly after the market opened, falling
below the previous 52-week low of $11.21. But they quickly
rebounded to $11.24, still down 31 cents.
Ford shares fell to $4.46, below the previous 52-week low of
$4.90, before recovering to $4.73. That was still down 25 cents.
Ford, GM and the privately held Chrysler LLC have seen huge
sales declines ever since gas prices started to rise dramatically
in February and the U.S. market shifted away from trucks and sport
utility vehicles.
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