GM - Why Ford GM and Avis Stocks All Crashed Today
Traffic warning: There's a big jam of car stocks on the highway Wednesday afternoon, red lights as far as the eye can see -- and investors in automotive stocks should probably expect delays before their stock prices recover.
As of 1 p.m. ET, shares of Ford Motor Company (NYSE: F) are down 4.1%, and its archrival General Motors (NYSE: GM) is off 4.8%. Meanwhile, Avis Budget Group (NASDAQ: CAR) , the car rental company and sometimes used car seller, is performing twice as poorly as the automakers who sell it its cars -- down 10% on the nose.
You can probably thank Europe for much of this mess.
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Why Ford, GM, and Avis Stocks All Crashed Today