General Motors (GM -1.48%) said it would write down the Cruise Origin vehicle and shift strategies at Cruise to utilize the next-generation Bolt EUV. The market didn't like the news, nor did Cruise's co-founder and former CEO. Travis Hoium covers why this move and the $600 million write-off that came with it may have been the best option for GM.

*Stock prices used were end-of-day prices of July 24, 2024. The video was published on July 25, 2024.