Stellantis (NYSE:STLA) stock is on the move Wednesday after the company announced a recall of 131,700 Ram 1500 pickup trucks.
That recall has to do with issues concerning the powertrain software of vehicles produced during 2021. That can result in problems with the fuel mixture, which can result in the vehicle’s engine stalling.
Owners of one of the Ram 1500 pickup trucks can have them repaired for free. All the repair will take is a simple trip to a dealership where they can provide a software update resolving the problem.
This isn’t the first Stellantis recall that has been announced in 2023. The company also recalled 340,000 diesel Ram trucks in February after six fires. The problem that time had to do with an electrical connector in the vehicles.
What This Means for STLA Stock
Today’s Ram 1500 pickup truck recall is unlikely to have any long-term negative effect on STLA stock. Granted, if recalls continue to pile up, it will hurt consumer confidence. That would be bad for investors.
As far as today goes, we aren’t seeing much movement from STLA stock today. As of this writing, more than 1.4 million shares have changed hands. That’s well below its daily average trading volume of about 5.4 million shares.
STLA stock is down 1% as of Wednesday morning.
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On the date of publication, William White did not hold (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.
