GM and Ford shares fall after UBS downgrades on expectations for weakening demand
-Shares of General Motors and Ford Motor each tumbled Monday.
-A pair of UBS downgrades cited expectations for weakening demand amid inflationary pressures.
-Shares of both GM and Ford are off about 45% year to date.
-A pair of UBS downgrades cited expectations for weakening demand amid inflationary pressures.
-Shares of both GM and Ford are off about 45% year to date.
Shares of General Motors and Ford Motor each tumbled Monday after a pair of UBS downgrades citing expectations for weakening demand amid inflationary pressures.
Both GM and Ford shares are off about 45% year to date. Both companies have a market capitalization of just under $50 billion.
UBS continues to prefer GM over Ford due to its momentum with electric vehicles and fewer problems with production during the third quarter. Hummel said UBS expects a “solid quarter” for GM, which is scheduled to report third-quarter results on Oct. 25.
Ford is scheduled to report third-quarter results on Oct. 26.
Both GM and Ford shares are off about 45% year to date. Both companies have a market capitalization of just under $50 billion.
UBS continues to prefer GM over Ford due to its momentum with electric vehicles and fewer problems with production during the third quarter. Hummel said UBS expects a “solid quarter” for GM, which is scheduled to report third-quarter results on Oct. 25.
Ford is scheduled to report third-quarter results on Oct. 26.
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