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Entrepreneur
Kurra Bewarse
Username: Entrepreneur

Post Number: 2957
Registered: 05-2011
Posted From: 65.35.45.47

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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.

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