U.S. Stock Market News | Target price lowered by Wells Fargo, General Motors falls more than 5.7%
On Tuesday, General Motors' stock price fell, with the stock dropping over 5.7% to $44.7 as of the time of publication. Wells Fargo lowered the stock's target price to $33. The bank expects that by 2025, the car production of the Detroit Big Three automakers, including General Motors, will decrease by 2% compared to 2024, continuing to face unfavorable factors such as pricing, electric vehicles, and regulations. Asian car manufacturers such as Toyota and Hyundai have launched new SUV models, posing a threat to the Detroit Big Three automakers' position in this segment market
According to the Zhitong Finance and Economics APP, on Tuesday, General Motors (GM.US) stock price fell, with the stock dropping over 5.7% to $44.7 as of the time of publication. Wells Fargo lowered the stock's target price to $33. The bank predicts that by 2025, the car production of the Detroit Big Three, including General Motors, will decrease by 2% compared to 2024, continuing to face unfavorable factors such as pricing, electric vehicles, and regulations. Asian car manufacturers like Toyota and Hyundai are launching new SUV models, posing a threat to the Detroit Big Three's position in this segment market