At first glance, automotive giant Stellantis (STLA) – which owns powerhouse brands such as Chrysler, Fiat and Dodge, among many others – appears to be fighting a cruel battle against inevitability. After all, the experts have long pounded the table that electric vehicles are the future. Well, that narrative isn’t quite panning out, possibly boding well for speculators of STLA stock.
To be sure, it hasn’t been a kind week for Stellantis, with shares down more than 4%. Still, as Barchart contributor Tony Daltorio mentioned earlier this month, you can’t discount the legacy automakers, which have enjoyed a strong performance this year. For STLA stock, it’s almost roughly 13% despite last Friday’s 4% drop.
