Aston Martin share price takes a nose dive
30-Jul-2019 • Bond News
Despite all the recent publicity about Bond 25 and placement of at least three different models in the next 007 adventure, Aston Martin has seen their share price nosedive this week.
Shares dropped 26% on Wednesday alone as the company announced 'softness' in the market for its luxury cars. It only got worse as the week went on.
“The challenging external environment highlighted in May has worsened, as have macro-economic uncertainties,” the company said.
“We anticipate that this softness will continue for the remainder of the year and are planning prudently for 2020.”
It now expects sales to be between 6,300-6,500 vehicles, compared to earlier predictions of 7,100 to 7,300 cars.
The company floated on the London Stock Exchange last year with a launch price of £19. It's now down to £5.68.
The financial press has reported that hedge funds have made more than $200m off Aston Martin's poor results by shorting their stock.
