GM Recalls Another 7 Million Vehicles: Chart of the Day
Another day. Another recall. It's GM we are talking about today as it's our Chart of the Day.
Another day. Another recall. It's GM we are talking about today. The auto giant has recalled yet another 7 million vehicles, bringing the tally this year to some 26 million vehicles. At issue in Monday's recall is faulty ignition switches. Shares of GM are under pressure in pre-market trading on Tuesday. It closed Monday at $36.30. In the last year, GM traded as low as $31.70 and as high as $41.85. All of these recalls have had a limited effect on GM's stock price. It could hurt its bottom line. The company also announced that it would increase its second-quarter charges to pay for recalls to $1.2 billion, up from the previous announced $700 million. TheStreet's Joya Dass reports from the Nasdaq Marketsite.
