After announcing $2.8 billion takeover of Cooper. The corporate action is assisting company to reaching biggest car market in the world- China
Goodyear and Cooper are the two largest tire producers in the US, they lag behind rival manufacturers in market share and brand recognition in China. This purchase will be further strengthen sale in global and China due to reducing rivalry.
How big car market is in China?
1. According source, 2,832,900 vehicles were sold in the Q1 2020 in China and comparing with Europe only 3,054,700.
2. Fast selling in EV, China set a new monthly record of plug-in electric car sales in December 2020 224,000, which improve 50% compare with year 2019.
My opinion
1. Price might be consolidate in range 13.2 ~ 14.4
2. If there is support with large volume, price might spiking again
*Share your idea below to benefit fellow investors
*FYI this is not purchase and sale advice
Thank you
Follow me for daily financial news snap short.
Goodyear and Cooper are the two largest tire producers in the US, they lag behind rival manufacturers in market share and brand recognition in China. This purchase will be further strengthen sale in global and China due to reducing rivalry.
How big car market is in China?
1. According source, 2,832,900 vehicles were sold in the Q1 2020 in China and comparing with Europe only 3,054,700.
2. Fast selling in EV, China set a new monthly record of plug-in electric car sales in December 2020 224,000, which improve 50% compare with year 2019.
My opinion
1. Price might be consolidate in range 13.2 ~ 14.4
2. If there is support with large volume, price might spiking again
*Share your idea below to benefit fellow investors
*FYI this is not purchase and sale advice
Thank you
Follow me for daily financial news snap short.