From 24/7 Wall St. · David Moadel · · 1m 10s
Stellantis Shares Drop 8% as Q3 Report Nears
Stellantis shares plummet 8% ahead of Q3 report, dragging Ford and GM down.
In brief
Stellantis shares plummet 8% ahead of Q3 report, dragging Ford and GM down. Stellantis shares fell 8% to $3.94, Ford dropped 4% to $11.47, and GM slid 3% to $74.91 as Q3 results approach. Originally reported by 24/7 Wall St..
Stellantis Shares Plummet
Stellantis shares dropped 8% to $3.94, 64% lower year to date as Q3 report approaches.
Ford and GM Stocks Decline
Ford shares fell 4% to $11.47, GM dropped 3% to $74.91 amid automaker sector pressure.
Market Selloff Intensifies
Consumer discretionary ETFs down 2% to $113.07, S&P 500 ETF down 0.7% to $758.94.
Stellantis Bears Most Risk
Stellantis faces wider regional challenges than Ford and GM, with European pricing pressure and Q2 losses.
Stellantis Margin Weakness
Stellantis posted 1.8% adjusted operating margin in Q2, swinging to net profit from loss.
Q3 Report Test for Turnaround
Q3 results may show if Stellantis turnaround plan works amid raw material inflation and summer shutdown.
Investor Caution Ahead
Investors advised to keep positions modest until sentiment improves on Stellantis stock.
The short version
Stellantis shares fell 8% to $3.94, Ford dropped 4% to $11.47, and GM slid 3% to $74.91 as Q3 results approach.
