Jim Cramer Notes GM Stock Drops Despite Tariff News Favoring U.S. Automakers

General Motors Company (NYSE:GM) is one of the 13 stocks recently discussed by Jim Cramer. While Cramer showed bullish sentiment toward the stock in light of the tariffs, he mentioned that the stock went down and acknowledged “not everybody believes.”

“Keep in mind, we have a big, persistent trade deficit with both Japan and South Korea. You tack on a big tariff on imports from those countries, and suddenly, about 17% of vehicles made there and sold here are priced out of the market. In other words, this is great news for domestic automakers. Ford and GM should be able to clean up, yet both their stocks went down today. Hmm, sounds like not everybody believes.”

Jim Cramer Notes GM Stock Drops Despite Tariff News Favoring U.S. Automakers

A group of technicians in a garage, inspecting car parts and ensuring safety compliance.

General Motors (NYSE:GM) manufactures and sells vehicles and parts under multiple brand names. The company also offers software-based services and subscriptions, and provides financing, after-sales support, and fleet solutions.

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Disclosure: None. This article is originally published at Insider Monkey.