Stock Market Today, Oct. 1: Stellantis Surges Off Record Low on Ram Pickup Sales Jump
Stellantis (NYSE:STLA), a global automaker focused on passenger vehicles, light trucks, engines, and mobility services, closed at $4.69, up 7.57%. The company said third-quarter sales were roughly flat. A highlight for the company was Ram pickup sales jumping 34%.
Trading volume reached 52.0 million shares, coming in about 132% above its three-month average of 22.4 million shares. Stellantis IPO'd in 2010 and has grown 45% since going public.
How the markets moved today
The S&P 500 (SNPINDEX:^GSPC) closed at 7,666, up 0.19%, while the Nasdaq Composite (NASDAQINDEX:^IXIC) finished at 26,872, up 0.04%. Among global automotive manufacturing and mobility services peers, General Motors (NYSE:GM) closed at $79.31, up 3.00%, and Ford Motor (NYSE:F) closed at $12.27, up 1.74%, reflecting firmer sentiment across legacy automakers.
What this means for investors
Stellantis shares bounced off a record-low close yesterday after reporting third-quarter sales results and reaffirming its 2026 guidance and long-term financial goals. Total pickup sales jumped 34%, with sales of the popular Ram 1500 soaring 73% year over year.
Stallantis CEO Antonio Filosa used the report to help convince investors that the company's turnaround is on track. Filosa confirmed that the company believes it will still achieve a net revenue increase in the mid-single-digit percentage range this year and expects to be cash flow positive by next year, with an upward trajectory.
Stellantis' stock closed at an all-time low yesterday, but that may turn out to be the bottom if the company achieves its cash flow and profitability goals.
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Howard Smith has no position in any of the stocks mentioned. The Motley Fool recommends General Motors and Stellantis. The Motley Fool has a disclosure policy.
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