2023-09-19 12:40:26 ET
Shares of Toyota Motor (NYSE: TM) were gaining today as investors continued to bet that the Japanese auto manufacturer would benefit from the ongoing strike by the United Auto Workers (UAW).
Though there was no company-specific news about Toyota, that was enough to boost the stock today, sending it up 3% as of 11:32 a.m. ET on Tuesday.
Toyota shares are continuing a recent rally as manufacturers that don't depend on union workers, like Toyota, are expected to benefit from the UAW strike against Ford , General Motors , and Stellantis , the owner of Chrysler.
For further details see:
Why Toyota Stock Was Moving Higher Today