So Wall Street isn't buying into Marchionne's cool-aid either. With VW, Toyota and Fiat/Chrysler all vying for world domination I wonder if any of them ran the numbers that all of them can't succeed and one of them if not all will possibly fail in their goals....
Fiat Chrysler Debuts With A Thud on Wall Street; Will Investors Buy Its Ambitious Gro
Fiat Chrysler Debuts With A Thud on Wall Street; Will Investors Buy Its Ambitious Growth Story?
Forbes.com
Joann Muller
Sergio Marchionne’s grand plan to merge Fiat and Chrysler into a powerful new global automaker finally came to fruition Sunday, five years after his Italian company snatched the struggling U.S. carmaker from bankruptcy as part of a government-brokered bailout.
But on its first day of trading on the New York Stock Exchange, investors were in no rush to buy stock in the new company, Fiat Chrysler Automobiles, amid continued skepticism over whether Marchionne’s ambitious growth targets are achievable. Trading opened at $9 a share under the symbol FCAU, and after a brief initial burst, ended the day down 0.89% at $8.92.
Marchionne, speaking on the floor of the NYSE, said he was disappointed by the market’s reaction. “I don’t think we should be given such a low grade,” he said, according to the Wall Street Journal.
More at link: http://www.forbes.com/sites/joannmu...-its-ambitious-growth-story/?partner=yahootix
Forbes.com
Joann Muller
Sergio Marchionne’s grand plan to merge Fiat and Chrysler into a powerful new global automaker finally came to fruition Sunday, five years after his Italian company snatched the struggling U.S. carmaker from bankruptcy as part of a government-brokered bailout.
But on its first day of trading on the New York Stock Exchange, investors were in no rush to buy stock in the new company, Fiat Chrysler Automobiles, amid continued skepticism over whether Marchionne’s ambitious growth targets are achievable. Trading opened at $9 a share under the symbol FCAU, and after a brief initial burst, ended the day down 0.89% at $8.92.
Marchionne, speaking on the floor of the NYSE, said he was disappointed by the market’s reaction. “I don’t think we should be given such a low grade,” he said, according to the Wall Street Journal.
More at link: http://www.forbes.com/sites/joannmu...-its-ambitious-growth-story/?partner=yahootix
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Wall Street didn't buy much of anything today. The Dow was down 200+ pts and is down 700+ over the last week or so.So Wall Street isn't buying into Marchionne's cool-aid either. With VW, Toyota and Fiat/Chrysler all vying for world domination I wonder if any of them ran the numbers that all of them can't succeed and one of them if not all will possibly fail in their goals....
The only question I have is when did NYSE start assigning 4 letter stock symbols? Is that something new they recently started? 4 letters always used to indicate NASDAQ. O.O
Don't let these traders mind &$%# you they play with people all the time like this. Look at Chrysler and Fiat and they are worth more than 9 dollars a share. Soon they will be trading for 13 dollars and than is going to happen sooner than later. I hate listening to any of these analyst because they never tell the truth and will down play companies for there own purposes.
One of the sadder aspects of the Chrysler/Benz merger is that Chysler gave up its very rare and highly sought after single letter NYSE designator; CThe only question I have is when did NYSE start assigning 4 letter stock symbols? Is that something new they recently started? 4 letters always used to indicate NASDAQ. O.O
I would guess most of "wall street" knew what to expect from Fiat and Chrysler and FCA + FCA got there price/share counts close to being on the dot and it is NOT a "hot-must buy" sector
Fiatsler just outsold Toyota and is back as the third-best-selling car company in the US. I believe in the long term Marchionne's plan will be appreciated, however flawed it is. Everybody looks at the flaws, while Chrysler is quietly and very consistently following their plan and reacting swiftly is something doesn't work. They have so many potential fireworks planned that even if not all fire, they still do deliver.
1 - 9 of 9 Posts
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