Is Honda Stock experiencing a rise after its plant shutdowns? – Trefis
Honda stock (NYSE: HMC) has risen 1% in the last five trading days. In comparison, the larger S & P500 rose 1.8% in the last five trading days. Last month, the stock fell after the company said it would halt production at some of its U.S. and Canadian auto plants for next week due to supply chain issues. The shutdown was scheduled to begin at its five auto plants in the United States and Canada on March 22, 2021. A global semiconductor shortage and weak demand for cars amid the coronavirus pandemic and lockdowns continue to hurt many Car manufacturers. Previously, several companies, including GM, Ford, Honda, Toyota, Volkswagen, Daimler and Fiat Chrysler, had warned of temporary plant cuts or closures to deal with these problems. Now, is HMC’s stock about to grow? We believe there is a 52% chance that HMC shares will decline in the next month (twenty-one trading days) based on our machine learning analysis of stock price trends over the ten last years. See our analysis on Honda shares bullish odds for more details.
5D: HMC 1%, vs. S & P500 1.8%; Underperformed market
(36% probability event)
- Honda engine stock increased by 1% over a five-day trading period ending 4/13/2021, versus the wider market (S & P500) decline of 1.8%
- A change of 1% or more over five trading days is a 36% probability event, which has occurred 899 out of 2,516 times in the past ten years.
10D: HMC -1.1%, vs. S & P500 4.5%; Underperformed market
(41% probability event)
- Honda engine stock decreased by 1.1% in the last ten trading days (two weeks), compared to the larger market (S & P500) rise of 4.5%
- A change of -1.1% or more over ten trading days is a 41% probability event, which has occurred 1018 out of 2,500 times in the past ten years.
21D: HMC 0.5%, vs. S & P500 5.2%; Outperformed market
(46% probability event)
- Honda engine stock increased by 0.5% over the last twenty-one trading days (one month), compared to the larger market (S & P500) rise of 5.2%
- A change of 0.5% or more in twenty-one trading days is a 46% probability event, which has occurred 1142 out of 2458 times in the past ten years.
While Honda inventory may have moved, EVs are the future of transportation, but choosing the right EV inventory can be tricky. Invest in Stocks of electric vehicle components suppliers can be a good alternative to play on the growth of the EV market.
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