After a 96% plunge, is buying more Aston Martin shares throwing good money after bad?5 Nov 2024 19:02
Supply chain disruptions are being “proactively managed” while Q3 volumes rose 14% as the order book continues to expand. This should strengthen as its new range of models go on sale in all markets. It’s now on track to meet revised full-year 2024 guidance, although the key word here’s “revised”.
China remains a worry, as it does for many a luxury goods maker. I’m not sure what’s going to turn around that economy. Beijing’s run out of ideas. The Americas is a big market for Aston Martin, with 1,112 sales out of 3,639 so far in 2024, but the US economy could go either way from here.
The 11 analysts offering one-year price forecasts for Aston Martin have set a median target of 167.5p. That’s up a hefty 41.31% from here and would be great if it happened.
There are positive signs but Aston Martin remains a risky gamble, especially as it’s yet to crack the transition to electric. I may be throwing good money after bad but there are positives and I’m going to scrape together some more cash to top up my stake.
https://www.fool.co.uk/2024/11/05/after-a-96-plunge-is-buying-more-aston-martin-shares-throwing-good-money-after-bad/