Why Investors Slammed the Brakes on Toyota Stock Today
TMToyota(TM) The Motley Fool·2024-09-28 05:41

Product recalls aren't unusual in the auto industry, but that doesn't mean investors have to like them.Investors in auto companies always fear news of product recalls, since the subsequent hit to a manufacturer's reputation can ding the price of its stock. That's what happened on Friday with Japanese automaker Toyota Motor (TM -3.45%), as a market sell-off followed the announcement of its latest recall.By market close today, the company's shares had lost 3.5% of their value; investors would have been better ...