Nasdaq Automotive Tech Stocks Lose 500 Billion Won in Market Value in One Day

On July 1, Garrett Motion Inc. (Nasdaq: GTX), a supplier of automotive turbochargers and electrification components, closed down 6.52% at $31.40 on the Nasdaq. At that price, its market capitalization stood at approximately $5.88 billion (about KRW 8.2 trillion), erasing roughly $360 million (around KRW 500 billion) in a single trading day. Volume for the session reached 3.189 million shares.

On April 30, Garrett Motion reported first-quarter 2026 financial results in which both revenue and earnings exceeded market expectations. The company raised its full-year guidance and declared a cash dividend of $0.08 per share. Amid recent stake purchases by certain institutional investors, analysts’ consensus ratings remain close to a “buy.”

Originally spun off from Honeywell’s Transportation Systems division, Garrett Motion designs and manufactures automotive and industrial turbochargers, electric boost systems, and compressors. Headquartered in Rolle, Switzerland, it supplies tens of millions of turbo systems to global automakers and is expanding into the vehicle electrification space—improving internal combustion engine efficiency and developing hybrid, electric-vehicle, and hydrogen-fuel-cell compressors.