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General Motors stock downgraded

Vehicles enter and exit the downtown on the freeway, in front of General Motors World Headquarters in downtown Detroit, Michigan July 20, 20
Vehicles enter and exit the downtown on the freeway, in front of General Motors World Headquarters in downtown Detroit, Michigan July 20, 20

DETROIT (WKZO) -- There is more bad news for General Motors investors. Morgan Stanley has downgraded the automaker's stock and lowered its price target by 16-dollars a share to 33-dollars per share.

The automaker is also facing a seven-thousand dollar a day fine by the National Highway Traffic Safety Administration over the lack of documents requested by the federal agency. GM has failed to respond to 107 questions concerning the handling of an ignition switch problem in millions of vehicles that has led to at least 13 deaths.

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