GM Crashes After Announcing Write Off

Today Reuters is reporting: "March 9 ( Reuters ) - General Motors Co ( GM.N ) said on Thursday it expects to incur up to $1.5 billion in pre-tax charges in connection with its voluntary separation program ( VSP ) aimed at speeding up the attrition process and cut costs." For full coverage click here. Shares of the large-cap Consumer Discretionary company have -4% this morning, and are currently trading at $39.76.

General Motors Company (GM) is an American multinational corporation headquartered in Detroit, Michigan that designs, manufactures, markets, and distributes vehicles and vehicle parts, and sells financial services, with global headquarters in Detroit's Renaissance Center. The company belongs to the Consumer Discretionary sector, which has an average price to earnings (P/E) ratio of 22.33 and an average price to book (P/B) ratio of 3.12. In contrast, General Motors Company has a trailing 12 month P/E ratio of 6.49 and a P/B ratio of 0.835.

General Motors Company has moved -5.32% over the last year compared to -6.28% for the S&P 500 -- a difference of 0.96%. General Motors Company has a 52 week high of $46.42 and a 52 week low of $30.12. At today's price of $39.76 per share, General Motors Company is -18.62% away from its target price of $48.86, and on average, analysts give the stock a rating of buy. 2% of the company's shares are linked to short positions, and 84% of the shares are owned by institutional investors.

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