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Automotive stocks drop since recall announcement

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Automotive stock prices have not fared well since May 22, when Ford Motor Co. announced it was recalling some 13 million Firestone Wilderness AT tires as a precautionary safety measure. The company didn't say the tires were unsafe, but said its data indicated they had a greater propensity for tread separations than did Goodyear Wranglers.

In nearly a month since then, tire stock prices -- and Ford's -- have dropped. Ford's stock was selling at $25.98 on May 22; it has dropped 3.7% since then. Bridgestone Corp. has dropped 1% over the same time span, from $10.33 to $10.22 as of June 18.

Other stocks have fared as follows: Goodyear Tire & Rubber Co. down 6.6%, Groupe Michelin down 5.3%, Continental AG down 3.2% and Pirelli SpA down 6.3%.

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