GM, Ford Stocks Have Been Crushed by the UAW Strike. Tesla Isn't Winning.

The United Auto Workers strike is almost three weeks old. Some of its effects on car stocks are predictable. Others aren’t.

The battle is over wages and benefits amid high inflation. Workers are looking to improve their lives after enduring wage gains that haven’t kept up with inflation for the past few years. The Detroit Big Three auto makers are trying to keep costs down so they can invest in electric vehicles and make them as inexpensively as nonunion players including Tesla and Rivian Automotive .

Ford and GM shares are both down about 21% over the past three months, while the S&P 500 is down about 3% over the same span. Tesla isn’t getting the bump that investors might have expected from the possibility that competitors’ costs could rise faster than its expenses, which underscores how it is a variety of factors, rather than single events, that drive stock prices.

Business Business Latest News, Business Business Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Tesla, Ford and WeWork shares fall, Netflix's stock gains, and other stocks on the moveHP's stock rallied after BofA swings to bullish from bearish, while McCormick's stock leads the S&P 500's losers after a sales miss.
Source: MarketWatch - 🏆 3. / 97 Read more »

Here are 23 stocks I'm watching in the market, including Meta, Ford and ChipotleHere are some of the tickers on Jim's radar for Wednesday, Oct. 4, taken directly from my reporter's notebook.
Source: CNBC - 🏆 12. / 72 Read more »

Stocks Had a Great September. Coal Stocks, Anyway.Shares of coal miners Alpha Metallurgical, Warrior Met Coal, Arch Resources, Consol Energy, and Peabody Energy logged double-digit-percentage gains in...
Source: MarketWatch - 🏆 3. / 97 Read more »