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Stellantis shares fell to a fresh 52-week low on Friday, leading a broad slide in auto stocks. NVDA is the closest allowed ticker listed in the news, though the catalyst is about STLA. Source: Benzinga.
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Stellantis Stock Drops to New 52-Week Low: What's Happening? Stellantis NV (NYSE:STLA) shares are tumbling to a fresh 52-week low Friday, leading a broad slide in auto stocks. Stellantis stock is testing key support levels. Why is STLA stock at lows? Stellantis Stock Hits New 52-Week Low At approximately $3.99, Stellantis has broken below its prior 52-week low of $4.19. Its 52-week high is $12.22, and the stock has lost roughly 62% over the past year, the worst record in its group. Heavy volume accompanies the drop. Roughly 37.2 million shares changed hands by 12:18 p.m. ET, almost four times the usual 9.5 million at that hour. A full session typically brings about 22.6 million. Stellantis took the biggest hit in a weak group. Among its peers, Winnebago Industries fell most at around 2.8%, followed by General Motors at 2.5% and Honda Motor at 1.7%. The Consumer Discretionary sector ETF (XLY) shed roughly 1.4%, versus a 0.2% decline for the SPDR S&P 500 ETF (SPY). Stellantis recently reported weaker third-quarter shipments. It estimates around 1.29 million vehicles shipped worldwide, down 1% from last year. North America fell 12%, which wiped out gains in Europe. Stellantis Joins Wayve and NVIDIA On Autonomous Driving Stellantis also teamed up Friday with Wayve, NVIDIA Corp. (NASDAQ:NVDA) and the French government. The partners announced at the Assises du Véhicule Autonome in Paris that they will work to speed autonomous vehicle rollout in France and across the EU. Their plan blends Stellantis’ L4-Ready Platforms, engineering and manufacturing know-how with the Wayve AI Driver, which will use NVIDIA Halos OS on the Hyperion compute and sensor architecture. They want France to anchor an ecosystem that spans silicon to finished vehicles, citing its large ride-hailing market. Transport Minister Philippe Tabarot said France will adapt its rules to speed up autonomous cars, as long as strict safety and data sovereignty standards hold. Stellantis SVP of Technology Research Anne Laliron said the project will bring safer, more convenient autonomous technology to customers. She called France one of the company’s key engineering centers. STLA Shares Are Slipping STLA Price Action: Stellantis shares were down 6.09% at $4.01 at the time of publication on Friday. The stock is trading at a new 52-week low, according to Benzinga Pro. Read Also: Stock Market Today: S&P 500, Nasdaq 100, Dow Jones Futures Fall Ahead of Global PMI Data—Western Digital, Newmont, Crown Castle in Focus (UPDATED) Image: Shutterstock