Why Shares in BorgWarner Soared in April
Shares in automotive technology company BorgWarner (NYSE: BWA) rose by 17.2% in March, according to data provided by S&P Global Market Intelligence. The move marked a bounce in confidence in the marketplace regarding prospects for the global economy in 2020.
More specifically, there's growing evidence that the pandemic is being contained and governments around the world are ready to relax restrictions on their economies. That's good news for the automotive sector, as it's been one of the hardest-hit industries in 2020. As an automotive supplier, BorgWarner needs light vehicle sales/production to bounce back.
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Source Fool.com
