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With its future taking longer to arrive than expected, General Motors Co. is buying time. About $10 billion worth.
GM’s recent history is not good. October 24 was a particularly bad day, with GM fluffing what should have been a fairly straightforward earnings call, suffering new strikes by the United Auto Workers and then having its self-driving business Cruise’s license suspended in California amid allegations it withheld footage of an accident from regulators. The stock ended that week at its lowest level since the summer of 2020, a time remembered fondly by few, an invitation to activists.
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