Why Auto Stocks Were So Jumpy on Friday
The auto industry strike that went into effect Friday -- the latest work stoppage in what many are calling the "hot labor summer" of 2023 -- resulted in a lot of action in auto stocks. Many companies in the industry saw trading volumes that were well above average, and the directions of the stocks' prices indicated how investors believe they'll be impacted by the strike.
For example, specialty electric vehicle (EV) makers and developers Fisker (NYSE: FSR) and TuSimple Holdings (NASDAQ: TSP) both did well Friday. The former's share price closed the day 5% higher, and the latter's rose by nearly 11%. Conversely, (NYSE: AN) fell by more than 4%, which was hardly surprising given the auto dealer's reliance on inventory from the strike's target companies.
Fisker and its EV (and other alt-fuel) peers will benefit first and foremost by simply not being among the target companies. These are namely the Big Three U.S. manufacturers: General Motors, Ford, and Stellantis. In contrast to those giants, there are no work stoppages happening at the facilities of these next-generation manufacturers and developers.
Source Fool.com
Autonation Inc. Aktie
Absolute Beliebtheit: Autonation Inc. hat nur Buy-Einschätzungen.
Ein positives, wenn auch bescheidenes, Potenzial für Autonation Inc. mit einem Kursziel von 202 € im Vergleich zum aktuellen Kurs von 186.5 €.
