Stellantis Drops 13% In Pre-market On Lowered Guidance

(RTTNews) - Shares of Stellantis N.V. (STLA) were falling more than 13 percent in pre-market on Monday to $13.94, after the automaker slashed its full-year profit margin outlook.

The company now expects adjusted operating income margin to be between 5.5 percent-7 percent for the full year, down from previous outlook in double digits. This is mainly driven by corrective actions in North America, and lower than expected sales performance in the second half of the year across most regions.

Stellantis stock had closed at $16.06, up 2.69 percent on Friday. It has traded in the range of $14.76 - $29.51 in the last 1 year.