Why Stellantis Shares Are Gaining Today
Portfolio Pulse from Nabaparna Bhattacharya
Stellantis N.V. (NYSE:STLA) has instructed union employees at two Michigan factories to work mandatory overtime to boost Jeep SUV production ahead of a potential strike deadline in September. The company is trying to meet high demand for the Wagoneer, Grand Wagoneer, and Jeep Grand Cherokee models, which are currently 17,871 units behind schedule. The news has led to a 3.34% increase in STLA shares.
June 29, 2023 | 2:41 pm
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Stellantis is mandating overtime to boost production, which has led to a rise in its stock price.
The news of Stellantis mandating overtime to boost production is directly related to the company's operations and has a clear impact on its stock price, which has risen by 3.34%. The company's efforts to meet high demand for its Jeep SUV models could potentially lead to increased revenues, which is likely to be viewed positively by investors.
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