Shares of the three Detroit automakers were trading down on Friday morning, as auto investors turned pessimistic after Ford Motor Company (NYSE: F) and General Motors (NYSE: GM) announced cost cuts.
Here's where these companies' stocks were trading as of 10:30 a.m. EDT:
Last week, FCA, Ford, and GM all shut down their factories in North America to reduce inventories and help slow the spread of the COVID-19 virus. With very little revenue coming in for the time being, all three are now focusing on bolstering their cash hoards and cutting spending -- and their stocks are falling as auto investors come to terms with the implications.