23 Apr

Why Fiat Chrysler Stock Tanked 5% on Tuesday

WRITTEN BY John Parker

Fiat Chrysler stock

In April so far, Italian-American auto giant Fiat Chrysler Automobiles (FCAU) has outperformed the broader market by a wide margin after underperforming in the first quarter. As of April 22, Fiat Chrysler stock was up 11.2% month-to-date, compared to 2.6% gains in the S&P 500 Index. Other mainstream automakers General Motors (GM), Ford (F), Toyota (TM), and Honda (HMC) have risen 6.5%, 8.2%, 5.2%, and 4.3%, respectively, in April so far.

Why Fiat Chrysler Stock Tanked 5% on Tuesday

Sign up for Bagels & Stox, our witty take on the top market and investment news, straight to your inbox! Whether you’re a serious investor or just want to be informed, Bagels & Stox will be your favorite email.

Why FCAU stock fell today

On Tuesday at 2:22 PM ET, Fiat Chrysler stock was trading with about 5.0% losses for the day against 0.8% gains in the S&P 500 Index. Among its peers, GM, Toyota, and Honda were up 0.7%, 0.5%, and 0.4%, respectively, while Ford was down 0.4%.

Earlier today, NHTSA (National Highway Traffic Safety Administration) announced the expansion of its “probe into potentially defective air bags to 12.3 million vehicles,” Reuters reported. The report noted that the regulatory authority is upgrading its probe “to an engineering analysis, a step required before it can seek to compel recalls.”

This update came as bad news for many automakers, including Fiat Chrysler, as it installed these potentially faulty airbags in its vehicles manufactured between 2010 and 2019.

Last week, Fiat Chrysler announced a recall of about 320,000 vehicles units of Dodge Dart compact cars in North America due to a faulty part that “could allow the shift cable to detach from the transmission,” Reuters reported.

Latest articles

19 May

Chinese Stocks are Getting Crushed

WRITTEN BY JP Gravitt

In the last month the CSI 300 is down 11.5%, much more than US indices.

JCPenney (JCP) is slated to announce its results for the first quarter of fiscal 2019, which ended on May 4, on May 21.

17 May

What to Know about the US-China Trade War

WRITTEN BY Mayur Sontakke, CFA, FRM

The key point of contention in the US-China trade dispute is the large trade deficit the United States runs against China.

On May 16, the Labor Department reported jobless claims for last week. Initial jobless claims fell by 16,000 to 212,000 for the week ended May 11.

Jeffrey Gundlach recommended investors take advantage of the volatility in interest rates at the recent Sohn Conference.

Tesla (TSLA) has fallen 4.2% as of 11:55 AM EDT on May 17. While US equity markets opened in the red today, they've recouped their losses.

172.31.38.64