Why Fiat (FIATY) Stock Is Down Today

NEW YORK (TheStreet) -- Shares of Fiat Group  (FIATY) are slipping -4.20% to $9.12 following concerns over its merger with Chrysler, that Fiat shareholders approved with a two-thirds majority on Friday, and which could fail if 5% of shareholders exercise their rights to sell out, Reuters reports.

Separately, the company announced plans today to cut prices in China for some of its Chrysler models and spare parts in response to closer scrutiny by the government, the Wall Street Journal reports.

STOCKS TO BUY: TheStreet Quant Ratings has identified a handful of stocks that can potentially TRIPLE in the next 12 months. Learn more.

FIATY ChartFIATY data by YCharts

STOCKS TO BUY: TheStreet Quant Ratings has identified a handful of stocks that can potentially TRIPLE in the next 12 months. Learn more. 

More from Markets

Global Stocks Rally as US-China Trade War Thaws; Dow Could Test 25,000

Global Stocks Rally as US-China Trade War Thaws; Dow Could Test 25,000

GE Confirms $11.1 Billion Transportation Merger With Wabtec

GE Confirms $11.1 Billion Transportation Merger With Wabtec

China Trade Truce, General Electric and Tesla - 5 Things You Must Know

China Trade Truce, General Electric and Tesla - 5 Things You Must Know

GE Shares Gain Amid Reports of $20 Billion Wabtec Deal

GE Shares Gain Amid Reports of $20 Billion Wabtec Deal

Listen: Here's What You Need To Know About ETFs Today (Hint: They're on Fire!)

Listen: Here's What You Need To Know About ETFs Today (Hint: They're on Fire!)