The alternative world of Aston Martin Lagonda (and why you should not buy the shares…ever)
By Chris Bailey | Monday 5 September 2022
Disclosure: I have no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from ShareProphets). I have no business relationship with any company whose stock is mentioned in this article.
Did you watch the Dutch Grand Prix on TV yesterday? If you have been watching races this season, you will not be particularly surprised that it was another victory for Max Verstappen and the Red Bull team. Somewhat less successful, although they did get one point from a 10th place finish, was the Aston Martin Lagonda (AML) team, continuing its generally dull performance this year. There is always next year I guess. And at least the money will survive for the next year or two for the whole Aston Martin Lagonda business following the formal announcement today of a "fully committed and underwritten c.£575.8m Rights Issue...irrevocable commitments from PIF, the Yew Tree Consortium & Mercedes-Benz AG to take up their full entitlements, amounting to 44.7% of total Rights Issue". Such is the world of fast expensive cars and rich people.
Premium content is for paid subscribers only
ShareProphets is reader-supported journalism
Become a member starting at £6.99 per month for all articles, the Bearcast, and our seven year archive.