STLA - Why Toyota Stock Was Gaining Today
2023-10-12 11:54:16 ET
Shares of Toyota (NYSE: TM) were moving higher Thursday in what seemed to be a response to an expansion of the United Auto Workers strike against the Big Three automakers.
Last night, the UAW expanded its strike to Ford 's (NYSE: F) largest and most profitable plant, a move that seems equally directed at General Motors (NYSE: GM) and Stellantis (NYSE: STLA) , the parent of Chrysler, to get them to sweeten their offers.
The news pushed shares of the Big Three domestic automakers lower Thursday, with Ford down 2.2%, GM off 2%, and Stellantis off 1.3% as of 10:18 a.m. ET.
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Why Toyota Stock Was Gaining Today