Damning Union Report Sinks Stellantis Stock

The equity is ready to breach the $12 level for the first time since 2020

Digital Content Manager
Jul 5, 2022 at 9:45 AM
facebook X logo linkedin

Stellantis NV (NYSE:STLA) just shared its vehicle sales for the first half of 2022, which saw a 14% drop from a year ago. Further, a recent union workers report was just released noting that the global chip shortage could bring the Italian auto concern's vehicle production down to 220,000 units this year. In response, STLA is down 7% at $11.53.

The equity is set to breach the $12 mark for the first time since November 2020. The stock's 80-day moving average has kept a lid on shares for the better part of this year, putting it at a 33.9% year-to-date deficit, and a 37.5% year-over-year loss. 

Analysts are split on STLA. Of the six in coverage, three say "strong buy" and three say "hold." Meanwhile, short interest has been on the rise, up 11.3% in the last reporting period, though it still represents just a slim 0.7% of the stock's available float. 

Short-term options traders, meanwhile, have been quite put-biased. This is per STLA's Schaeffer's put/call open interest ratio (SOIR) of 0.91, which sits higher than 89% of readings from the past year. 


Unlock Weekend Profits with Chris Prybal's Favorite Strategy Up +487.5% in 2024

With the markets going left, right, and sideways, you need to have a plan now more than ever. 

Expert Trader Chris Prybal is no stranger to volatility, and has mastered finding big stock rallies while other traders aren't looking over the weekend. Rallies that produced gains like +207% on RTX calls, +236% on MARA calls, and +238% on NET calls.

A few simple moves on Sunday at 7pm could be the “Secret Sauce” your portfolio needs to not just stay afloat, but make unprecedented gains in this turbulent market.

Don’t sit on the sidelines, beat the market with Chris Prybal's strategy. Join him now!




Rainmaker Ads CGI