NEW YORK (TheStreet) -- Trading of General Motors (GM) shares was halted at 3 p.m. Monday afternoon after the automaker announced a new round of recalls affecting 7.6 million vehicles made from 1997-2014.
The company said that it will conduct six new recalls and is aware of seven crashes, eight injuries and three fatalities related to the recalled vehicles.
General Motors also upped the size of the loss it expects to take this quarter due to multiple rounds of recalls to $1.2 billion from the $700 million it announced last week.
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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 some important positives, 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."