Entrepreneur
Kurra Bewarse Username: Entrepreneur
Post Number: 2957 Registered: 05-2011 Posted From: 65.35.45.47
Rating: N/A Votes: 0 | Posted on Wednesday, December 23, 2020 - 6:52 pm: | |
Magna (MGA) is higher after announcing a JV with LG Electronics to manufacture e-motors, inverters and on board chargers and, for certain automakers, related e-drive systems to support the growing global shift toward vehicle electrification. Magna is an auto contract manufacturer; this deal isn't very surprising after it signed a deal to make Fisker's (FSR) for its Ocean E-SUV concept last week. This stock was trading at ~7x EBITDA and 11x EPS so it is at the other end of the spectrum from the most egregious EV hype stocks and maybe a better/cheap way to play the shift in the auto market. |