Aston Martin share price goes into reverse as firm looks for funding

[rebbonk]

The share price of Aston Martin dropped by almost 14% today (June 30) after reports emerged that the Gaydon car manufacturer was looking to raise more money to safeguard its future.

At 2pm, shares in the company were changing hands for 410.9 – down over 69p, or 14.4%, on their opening price.

The news comes after Autocar reported that Aston Martin is struggling to balance its books to bring forward its future electrification strategy. At present, the car maker has £1.2bn of bank drafts, loans and outstanding bonds, meaning it could left high and dry in the search for extra funding.

The report suggests that a place on the firm’s board could be up for grabs for an investment of £200m.

Russ Mould, investment director at stockbroker and investor platform AJ Bell, said: “Investors hit the brakes on Aston Martin’s shares, which dived 9% after a report implied it was seeking to raise more money to safeguard its future. The company has been a disastrous investment since joining the stock market and anyone looking to back the company now would no doubt want a great deal to compensate for the risks involved.”

Source: https://www.thebusinessdesk.com/westmidlands/news/2065250-aston-martin-share-price-goes-into-reverse-as-firm-looks-for-funding May require sign up

[dutchman]

As far as I can tell they've always operated on the verge of bankruptcy?

Even David Brown got fed up with it after twenty five years.

[rebbonk]

Even as part of Ford's Premier Auto Group they were a liability.

[dutchman]

TLDW: That is NOT the original ("Lagonda") engine! There's probably a million other things which are not original such as the infamous David Brown farm-tractor clutch. This is essentially a 'restomod', ie: an old looking car with modern handling and convenience.

[dutchman]

Aston Martin begins global redundancy consultation



Aston Martin has put staff at risk of redundancy as it confirmed plans to reduce its workforce by up to 20% globally.

The luxury car firm, whose headquarters are in Gaydon, Warwickshire, said it was reviewing its organisational structure and responding to the "sustained" impact from US tariffs.

The global consultation process is currently impacting back office and engineering staff, said Unite.

The union said it was consulting with Aston Martin to make every effort to mitigate the number of jobs at risk.

A statement from Aston Martin said: "As part of the company's ongoing drive to optimise its cost base, it is taking further steps to strengthen its overall position, including a review of its organisational structure."

It added the proposals aimed to reduce employee numbers across all sites, and could affect contractor, fixed-term and permanent roles, subject to "appropriate consultation" with employee representatives.

The firm said the majority of those affected are expected to leave the business by April.

That number plate should read "LS12" as Lawrence Stroll has long since replaced David Brown as company chairman.