GM Recalls Another 7 Million Vehicles: Chart of the Day

July 1, 2014

Another day. Another recall. It's GM we are talking about today. The auto giant has recalled yet another 7 million vehicles, bringing the tally this year to some 26 million vehicles. At issue in Monday's recall is faulty ignition switches. Shares of GM are under pressure in pre-market trading on Tuesday. It closed Monday at $36.30. In the last year, GM traded as low as $31.70 and as high as $41.85. All of these recalls have had a limited effect on GM's stock price. It could hurt its bottom line. The company also announced that it would increase its second-quarter charges to pay for recalls to $1.2 billion, up from the previous announced $700 million. TheStreet's Joya Dass reports from the Nasdaq Marketsite.