Why General Motors Stock Skidded Off the Road Today
General Motors (NYSE: GM) didn't exactly cruise smoothly into the weekend. On the back of concerns about its Cruise self-driving program, the automaker's shares fell by nearly 4% on Friday, well eclipsing the 1% or so drop of the S&P 500 index.
The blowback was understandable, as it came on the back of news that the National Highway Traffic Safety Administration (NHTSA) has launched an investigation into Cruise. The probe stemmed from complaints the agency has received about cars in the program braking abruptly and, more worryingly, becoming immobilized in the middle of trips.
While those two types of incidents seem to be isolated from each other in General Motors' case, the NHTSA said in a filing that "This may introduce multiple potential hazards such as a collision with a Cruise vehicle, risk to a stranded passenger exiting an immobilized Cruise vehicle, or obstruction of other traffic including emergency vehicles."
Source Fool.com
