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StocksMedium•4 March 2026•

1 min read

Surface Transforms Shares Plummet After GM Cancels Major Supply Contract

Key Facts

1General Motors terminated its relationship with Surface Transforms for the supply of brake discs, effective March 31.

2The company's share price collapsed by more than 90% on Tuesday, dropping from around 2p to a low of 0.09p.

Surface Transforms (SCE) experienced extreme volatility this week following the termination of its supply relationship with General Motors (GM). The automotive giant notified the company that it would re-source its supply of brake discs, ending the contract effective March 31. Market reaction was swift and severe, with the company's share price collapsing by over 90% on Tuesday, falling from approximately 2p to a low of 0.09p. Despite the fundamental blow, the stock staged a partial technical recovery on Wednesday, rallying 62% to reach 0.15p. Analysts view the loss of a major OEM partner as a significant setback for the AIM-listed small-cap supplier. The company now faces heightened uncertainty regarding its future revenue streams and production pipeline.