Aston Martin Lagonda shares hit reverse
Aston Martin Lagonda shares erase early gains despite its annual loss coming in smaller than market expectations. The company has also delayed its first battery EV.
IGTV financial analyst Angeline Ong also looks at why the Ichimoku Cloud indicator on a daily chart suggests bearishness for the luxury car maker.
(AI Video Summary)
Aston Martin Lagonda's share price on the downside
Aston Martin Lagonda's shares have turned around and are currently up by 1.5%. However, the company's cash flow and sales in the fourth quarter did not meet investors' expectations, which has made them worried. Even though the company exceeded predictions for pre-tax loss, investors are more concerned about the lower-than-expected cash flow and sales.
Ichimoku Cloud chart analysis
Aston Martin has heavily invested in marketing to establish itself as a top-notch luxury race car brand in the leisure market. They have focused on promoting their Valkyrie models and special edition cars. However, an analysis of the Ichimoku Cloud chart shows that Aston Martin has faced significant challenges since it entered the market in 2018. Looking at the monthly chart, we can see that the stock is trading below the Cloud, which is not a good sign for the company. The weekly chart also confirms this observation, indicating that the stock is still below the cloud. To get a closer view of the current situation, the daily chart shows that Aston Martin's stock is down by 1.5%.
Overall, although Aston Martin's shares have improved slightly, concerns remain about the company's disappointing cash flow and sales. The analysis of the Ichimoku cloud chart suggests that Aston Martin has been facing difficulties since it entered the market in 2018.
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