GTX - Down 14% in One Month Is This Auto Stock a Buy?
Switzerland-based Garrett Motion (NASDAQ: GTX) sells turbochargers to the automotive industry. Its turbochargers go in electric hybrid cars, gasoline-powered cars, and light commercial vehicles. In addition to its turbocharger business, Garrett is investing in software and powertrain for all-electric cars.
In the midst of a global auto chip shortage and a weakening euro, the company provided investors with rosy numbers and an even rosier outlook. Even so, the stock is down about 14% since the end of June while the broader market has rallied. Is this the right time to consider Garrett Motion?
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Down 14% in One Month, Is This Auto Stock a Buy?