There are plenty of stories of gloom and doom and despondency in the current climate. You would not necessarily want to own shares in Uber or Lyft at present. The ride hailing apps are not exactly in favour while no one has anywhere to go to, and while they do not want to be in the car with another human being. A tricky puzzle to unravel, especially as neither was exactly storming ahead pre lockdown.
You probably wouldn’t want to be Daimler either, as it was reported today that they have paid $2.2 billion to settle outstanding diesel issues in the US. And they are the subject of a very sizeable class action over here.
But you might want to be an electric car manufacturer, let’s choose one at random like Tesla, in Europe over the coming couple of years. They have been so successful, they are looking at a 5 for 1 issue of shares at the moment. What does that mean – instead of one share worth $1644 (the price today) you get 5 worth a fifth of that. So you can sell them more easily, and they will be worth about what they were a couple years ago. Except you now have 5 of them….
Or you might want to be a battery manufacturer for electric vehicles. As they pour millions into manufacturing facilities to service the car manufacturers. Because sales of electric vehicles in Europe are predicted to outstrip even China over the coming years. With 1 million+ units this year, electric is the future, or at least the medium-term future.
Finally GM’s potentially massive lawsuit in the US regarding Fiat Chrysler’s alleged bribing of officials at the United Auto Workers union has been thrown out. They initially tried last autumn but the case failed and today they have failed again with the judge saying that their new allegations are simply too speculative to warrant overturning the previous decision, which dismissed the case. With all that is going on in the world, GM will still be disappointed in the outcome.
Have a great weekend, don’t forget the brolly – so long as it does not conduct electricity. There is lightning about.
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Do what you feel in your heart to be right – for you’ll be criticized anyway. You’ll be damned if you do, and damned if you don’t.
Eleanor Roosevelt (1884 – 1962)
No one is useless in this world who lightens the burdens of another.
Charles Dickens (1812 – 1870)
What you cannot enforce, do not command.
Sophocles (496 BC – 406 BC)
Drink nothing without seeing it; sign nothing without reading it.