GM Tumbles, Ford Slips, Tesla Up As Tariffs Weigh on Automakers

On this episode of Stock Movers:
- General Motors (GM) shares tumbled following President Trump's announcement on auto tariffs. Trump signed a proclamation to implement a 25% tariff on auto imports, aiming to bring more manufacturing jobs to the US.
- Ford (F) shares slipped also on the auto tariff news. The tariffs will come into effect on April 3, initially targeting fully assembled vehicles, and will expand to include major automobile parts by May 3.
- Tesla (TSLA) shares ticked slightly higher in premarket trading after President Trump's tariff announcement yesterday. The president said there would be "absolutely no tariff" for cars made in the US and Tesla has key factories in California and Texas. However, the EV company could still face the effects of tariffs for auto parts.
- Advanced Micro Devices (AMD) shares fell this morning in premarket after the chipmaker was downgraded to hold from buy at Jefferies, with analysts citing limited traction in artificial intelligence, among other negatives. Jefferies analyst Blayne Curtis also says that Street estimates for AMD are too high, while competition from Intel is growing.

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