General Motors, Southwest Gas, and More Companies Making Stock Price Movements
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Today, the first company in the list-making stock price movements is General Motors. The investors are advised to keep a close eye on the stock price movements for General Motors. The company has announced that it is going to hold its event on investor day. In the event, it is going to share details around the progress it has made in the electric car manufacturing sector. This is going to be the first time General Motors will be sharing a public report on the progress it has made so far. It is highly likely that the share prices for General Motors will be experiencing a rise. This is mainly due to the rising demand in electric cars and General Motors living up to its reputation in the electric market as well.
Then it is Southwest Gas coming up with its share price fall in the premarket trading. The company’s stock prices have experienced a 1.7% drop due to reports coming in about the company’s recent deal with Dominion Energy. The reports confirm that Southwest Gas is currently going through all the necessary processes involved in the purchasing of Dominion Energy’s Questar Pipelines. The officials at Southwest Gas have revealed that the deal will is likely to be finalized at a price worth $1.975 billion. The payment for the deal will be carried out in the form of assumed debt and in cash.
However, major stakeholders in the company (Southwest Gas) are raising their concerns over the deal where Carl Icahn is on top of the list. Following the emergence of reports surrounding a deal between Southwest Gas and Dominion Energy, Icahn has shared his concerns that the company must not proceed with the deal. He recommended that instead of going for such an acquisition and spending a large amount of money on it, the company must fix its problems. He suggested that the company must work towards fixing the stock prices and engage more with its shareholders to gain their trust. He predicted that going for such a deal would only result in diminishing the value of shares for the shareholders.
The social media and tech giant, Facebook is the next company in the list that is experiencing a drop in share prices. The whistleblower dilemma still seems to be haunting the entire company. Even Mark Zuckerberg, the Facebook CEO had to jump in, in order to control the situation. Zuckerberg has completely denied all the accusations made by the whistleblower. The name of the whistleblower is Frances Haugen and according to Mark Zuckerberg, their company is involved in no such anti-democracy activities. Zuckerberg denied the accusations through a blog post prior to the session at the senate.
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