General Motors Company [NYSE: GM] has disclosed that it has decided to terminate the production of some trucks this ongoing week at two U.S. auto plants. The firm is forced to take the decision because of the shortage of chips the world is facing today.
Shares of General Motors Company soared 0.12% at $60.16 during the trading session of Friday. In the past 52-weeks of trading, the shares of the firm wavered $20.12 from its 52-week of low range and $63.44 from its 52-week high range. Looking at its liquidity, it has a current ratio of 1.00 and a quick ratio of 0.90. GM has a total market capitalization of $86.18 billion at the time of writing.
Shut down of Production Plant
The US-based auto manufacturer is terminating the planned production for Saturday at its Fort Wayne Assembly plant, in Indiana. It has also decided to terminate a Friday night shift as well as overtime shifts for Saturday and Sunday at its Flint assembly plant, in Michigan. Furthermore, General Motor is intending to run one of its plants during two conventional summer closure weeks to increase manufacturing.