Will More Recalls Hurt GM (GM) Stock Today?

NEW YORK (TheStreet) -- Shares of General Motors Co. (GM) are down -1.60% to $34.38 in pre-market trade this morning after the automaker issued a new round of recalls.

GM recalled 477 of its popular Chevrolet Silverado and GMC Sierra pickup trucks over a tie-rod issue along with more than 140,000 Chevrolet Malibus from the 2014 model year over brake problems, the Wall Street Journal reports

GM has now initiated nearly 20 recalls since the start of the year covering more than eight million vehicles world-wide, with the bulk in the U.S., including a major recall over ignition-switch problems that has roiled the company, the Journal noted.

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TheStreet Ratings team rates GENERAL MOTORS CO as a Buy with a ratings score of B. TheStreet Ratings Team has this to say about their recommendation:

"We rate GENERAL MOTORS CO (GM) a BUY. This is driven by a few notable strengths, which we believe should have a greater impact than any weaknesses, and should give investors a better performance opportunity than most stocks we cover. The company's strengths can be seen in multiple areas, such as its revenue growth, good cash flow from operations, largely solid financial position with reasonable debt levels by most measures and increase in stock price during the past year. We feel these strengths outweigh the fact that the company has had sub par growth in net income."

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