Stellantis Stock Price Climbs After Europe Sales Gain; Elkann Says Carmaker Can Turn the Corner
Stellantis shares climbed 2.3% to $6.74 Tuesday after European sales data showed a 9.5% gain for the carmaker in February, outpacing the market. Chairman John Elkann expressed confidence in a turnaround but urged “patience and prudence” on capital allocation. Stellantis sold €5 billion in hybrid bonds this month to bolster liquidity after February’s €22.2 billion writedown. Investors await further updates at the May 21 capital markets day.