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Stellantis €22.2B Charges. Dividend Cancelled. Stock Tanks
Stellantis N.V. (NYSE: STLA. STLAM.MI) on Friday announced a vast overhaul of its business and as it prepares for the communication of its new strategic plan in May of this year. In a release it claimed that “it has conducted a thorough assessment of its strategy and related costs required to align the Company with the real-world preferences of its customers.”[Translation – STLA is hemorrhaging cash and will take charges and add debt while it tries to return to profitability. The capital markets did not take a wait and see view. STLA dropped ~24% by the time the markets closed – AutoCrat] Continue reading →