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27.03.2020 16:51:00

Shares of Ford, GM, and Fiat Chrysler Are Falling on Cost Cuts and Cash Worries

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. Continue reading
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