Exclusive-GM’s Cruise valuation slashed by more than half, email shows By Reuters
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© Reuters. FILE PHOTO: A self-driving GM Bolt EV is seen during a media event where Cruise, GM’s autonomous car unit, showed off its self-driving cars in San Francisco, California, U.S. November 28, 2017. REUTERS/Elijah Nouvelage//File Photo
By Greg Bensinger
(Reuters) – General Motors (NYSE:)’ Cruise saw its internal share price cut by more than half from a quarter ago as the fallout from an October accident continues to weigh on the self-driving car company.
Cruise employees were told the share price had been estimated by a third party at $11.80, according to an email viewed by Reuters. That’s down from a prior estimate of $24.27 just one quarter ago.
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© Reuters. FILE PHOTO: A self-driving GM Bolt EV is seen during a media event where Cruise, GM’s autonomous car unit, showed off its self-driving cars in San Francisco, California, U.S. November 28, 2017. REUTERS/Elijah Nouvelage//File Photo
By Greg Bensinger
(Reuters) – General Motors (NYSE:)’ Cruise saw its internal share price cut by more than half from a quarter ago as the fallout from an October accident continues to weigh on the self-driving car company.
Cruise employees were told the share price had been estimated by a third party at $11.80, according to an email viewed by Reuters. That’s down from a prior estimate of $24.27 just one quarter ago.
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