NEW YORK (TheStreet) -- Shares of General Motors Co (GM) are slipping, down 1.8% to $31.02 in midday trading Monday, after documents showed that the automaker ordered 500,000 replacement parts for its faulty ignition switches two months before notifying regulators about the issue, the Associated Press reported.
The documents were email exchanges between GM workers and Delphi Automotive PLC (DLPH) , the supplier of the ignition switches.
The emails were released in a court case today by Texas personal injury attorney Robert Hilliard, and raises concerns about what GM knew, and how honest the company was both in congressional testimony and in the GM-funded investigation into its conduct, the AP added.
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Separately, 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 several positive factors, 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, growth in earnings per share 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."