How Will GM (GM) Stock Respond To A 'Reinvention'?

NEW YORK (TheStreet) -- General Motors Co. (GM) is in a "massive transformation" and will continue bringing new people into the organization, according to a key executive, the Wall Street Journal reports.

"I am absolutely open to bringing in fresh eyes," GM's global product chief Mark Reuss says. ""We are reinventing the place."

His comments come as GM is attempting to regain its footing in the quietness that has followed senate hearings in which CEO Mary Barra defended the company's handling of its ignition switch recall, the Journal noted.

 

Since then, the company had begun taking steps to move the focus back to its vehicle portfolio, the Journal said.

Shares of General Motors are down -0.68% to $33.72.

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 and largely solid financial position with reasonable debt levels by most measures. We feel these strengths outweigh the fact that the company has had lackluster performance in the stock itself."

If you liked this article you might like

How to Live Just Like Billionaire Warren Buffett

Market Signals Change of Direction: Cramer's 'Mad Money' Recap (Monday 9/18/17)

GM Employees in Canada Go On Strike Over Production Shifts to Mexico

Cramer: Irma and Harvey Busted the Algos

Stock Observations; Reviewing Equities: Doug Kass' Views