World’s fourth-largest carmaker rallies on first day of trade after $52 billion merger

Stellantis shares climbed 7.5% by afternoon trade following its launch on stock exchanges in Milan and Paris.The launch marked the culmination of tie-up talks that began in late 2018.

The Milan-listed shares started trading at 12.758 euros per share with a market cap of 39.2 billion euros , and by afternoon deals in Europe were up at 13.55 euros per share.CEO Carlos Tavares, former CEO of PSA Group, said the merger would add 25 billion euros in value to shareholders over the coming years due to projected cost cuts.

The stock will launch in New York when Wall Street opens on Tuesday, with U.S. markets closed Monday for a public holiday, after which Tavares will hold his first press conference as Stellantis CEO.

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CNBC /  🏆 12. in DE

This isn’t $TSLA 🧐

Is this a real car company or only a car company on paper?

$stla moon time?🧐🚀

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