Car trouble: Zooming auto stocks may soon top out

October 5, 2017


Shares of auto stocks such as General Motors and Ford are on a tear, but some say the stocks are set to take a pause.

General Motors shares hit an all-time high on Tuesday after the company posted September sales that beat estimates and received a bullish analyst upgrade.

Ford shares on Wednesday hit their highest level in seven months following news that Ford would slash costs by $14 billion over the coming years and begin investing in trucks and electric and hybrid cars.

While General Motors has risen nearly 26 percent so far this year, Ford shares are barely positive in the same time, seeing a 13 percent gain in the last two months alone.

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