Goldman Sachs downgrades GM, stock falls

Goldman Sachs downgrades GM, stock falls

General Motors Co. was trading down Monday following several months of steady growth after Goldman Sachs downgraded the stock to sell. GM shares had fallen 3.45 percent to $43.10 per share Monday afternoon. The Detroit automakers have turned profits amid plateauing vehicle sales for SUVs and trucks. But Goldman’s David Tamberrino in a Monday note said 2018 doesn’t look as good for GM. He expects new products and a continued plateau in sales will hurt GM’s profitability and earnings. Crosstown rival Ford Motor Co. is better positioned for next year, Tamberrino said. The Dearborn automaker has more cash, which […]