The Nissan-Honda merger could shake up the auto sector
The auto sector is in focus today, as companies big and small wrestle with Honda Motor (HMC) and Nissan Motor moving forward with merger talks, with plans to reach a conclusion in June of 2025 and potentially form the third largest automaker in the world. With this backdrop, now looks like a good time to check in on three other big-time auto names.
Ford Motor Co (NYSE:F) stock is trading at $9.84 today, not too far removed from its Aug. 5 three-year low of $9.49. The $11.30 level has thwarted several rallies since those early-August lows, and the stock has yet to recover from last week's Jefferies downgrade, which pushed it below former support at $10.30. Year to date, the equity is down 17.9%.
Shares of General Motors Co (NYSE:GM) are up 0.7% at $52.17, on track for their third-straight win after bouncing off the $50 level, long-term level of pressure until flipping to support in late October. Prior to its most recent pullback, GM hit a nearly three-year high of $26.30 on Nov. 10, and made headlines earlier this month after ditching its robotaxi unit. Since the start of the year, the security is up 45%.
Stellantis NV (NYSE:STLA) stock is trading at $12.87, at last look. The shares have been pulling back from a ceiling at the $14 level toward their recent Dec. 2 two-year low of $12.12, which came after news of the company's CEO departure. Since the start of the year, the STLA is down 44.8%.