US Stock Market Move | Wells Fargo & Company lowered its target price for General Motors Company (GM.US), causing a drop of over 5.7%.

On Tuesday, the stock price of General Motors Company (GM.US) fell, dropping over 5.7% to $44.7 as of press time. Wells Fargo & Company lowered their target price for the stock to $33. The bank predicts that by 2025, the car production of the Detroit Big Three, including General Motors Company, will decrease by 2% compared to 2024, due to pricing, electric vehicles, and regulatory challenges. Asian car manufacturers such as Toyota and Hyundai are introducing new SUV models, posing a threat to the Detroit Big Three's position in this segment of the market.