The UAW has threatened to extend the scope of the strikes, and a prolonged period of work stoppage could impact the entire automotive supply chain. On top of that, the wage hikes resulting from the related negotiations are set to weigh on the profit margins of the car companies.
“Investors like more certainty about what to expect,” said Matthew Tuttle, chief executive officer of Tuttle Capital Management, in an interview. “Both GM and Ford stocks have been savaged in anticipation and are both near some pretty strong support areas.” Some strategists see the impact of the strikes as minimal in the longer run, especially as the industry navigates a much broader disruption amid the move toward electric cars.
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