Stock Market Today, Oct. 1: Stellantis Surges Off Record Low on Ram Pickup Sales Jump
Stellantis (NYSE:STLA), a global automaker focused on passenger vehicles, light trucks, engines, and mobility services, closed at $4.69, up 7.57%. The company said third-quarter sales were roughly flat. A highlight for the company was Ram pickup sales jumping 34%.Trading volume r
On October 1, Stellantis (STLA) shares surged on a record low closing price following a significant jump in Ram pickup sales. The global automaker, specializing in passenger vehicles, light trucks, engines, and mobility services, reported flat third-quarter sales. However, Ram pickup sales surged 34%, with Ram 1500 sales increasing by 73% year-over-year.
Trading volume reached 52.0 million shares, marking a 132% increase over the company's three-month average. Stellantis, which went public in 2010, has grown 45% since its IPO. Meanwhile, the S&P 500 and Nasdaq Composite closed at 7,666 and 26,872, respectively, both up slightly. Other automakers such as General Motors (GM) and Ford Motor (F) also saw gains, with shares rising 3% and 2% respectively.
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