Goodyear Shares Hit Lowest Point in Five Years

Shares in Goodyear Tire & Rubber sank to their lowest point since 2003 on November 20. Their fortune linked to the downward spiral of the ‘Big Three’ vehicle manufacturers, despite Goodyear’s recent efforts to emphasise that the majority of its sales are for the replacement market.

In midday trading, Goodyear shares of were down 82 cents, or about 17 per cent, to $4.01. Earlier, the stock was trading as low as $3.93 – its lowest point in five years. Goodyear’s shares have most closely mirrored the decline in General Motors stock, which plummeted to a 70-year low on November 20