• Investing
  • Stock
  • Editor’s Pick
  • Economy
The Significant Deals
Stock

Nissan shares spike on reports of activist investor stake

by November 12, 2024
written by November 12, 2024

Investing.com – Shares in Nissan Motor Co., Ltd. (TYO:7201) surged by their most in 15 years on reports that an activist investor had taken a stake in the Japanese carmaker.

Citing filings with the SEC, media reports said Suntera (Cayman) Ltd, a trustee of ECM Master Fund, had purchased 2.5% of Nissan (OTC:NSANY) stock as of the end of September.

An unrelated separate filing showed that ECM Master Fund was managed by Effissimo Capital Management, a Singapore-based hedge fund known carrying out a high-profile campaign against Japan’s Toshiba Corp. (TYO:6502) Effissimo’s accusations that the company had infringed on shareholders led to the resignation of its CEO in 2021. The firm was bought out two years later and privatized.

Nissan said it appreciated all “existing and new shareholders that support and believe” in its future potential, Reuters reported, quoting a statement from the group.

An Effissimo spokesperson could not be immediately reached for comment, Reuters added.

Last week, Nissan unveiled sweeping job cuts and a move to reduce its global manufacturing capacity following a sharp dip in sales in China and the US. It also issued its second full-year profit downgrade of the year, slashing its income outlook by 70% to 150 billion yen, and promised to pursue a turnaround effort.

Tuesday’s jump in the stock helped to pare back much of the losses logged after the figures were released.

Japan’s third-largest automaker, Nissan has been struggling to compete with fierce competition from the likes of Chinese electric vehicle brands like BYD (SZ:002594). It has partnered with Honda (NYSE:HMC) to help revive its performance in China, the world’s biggest car market.

(Reuters contributed reporting.)

This post appeared first on investing.com
0 comment
0
FacebookTwitterPinterestEmail

previous post
Moncler denies bid for Burberry, shares drop
next post
EUR/USD & EUR/GBP: Key Support Levels Under Pressure

You may also like

BASF results down on impairments, restructuring

January 27, 2025

European chipmakers slump as traders gauge DeepSeek AI...

January 27, 2025

Nasdaq futures tumble as China’s AI push rattles...

January 27, 2025

China Vanke’s CEO, chairman resign amid growing liquidity...

January 27, 2025

Fuji Media, rocked by sexual misconduct allegations, says...

January 27, 2025

Italy’s MPS shares fall ahead of Mediobanca board...

January 27, 2025

British Land stock drops following stake sale

January 27, 2025

UMG shares rally after new multi-year pact with...

January 27, 2025

BASF shares indicated 3% lower as impairments drag...

January 27, 2025

Ryanair cuts 2026 traffic forecast amid ongoing Boeing...

January 27, 2025
Become a VIP member by signing up for our newsletter. Enjoy exclusive content, early access to sales, and special offers just for you! As a VIP, you'll receive personalized updates, loyalty rewards, and invitations to private events. Elevate your experience and join our exclusive community today!








    By opting in you agree to receive emails from us and our affiliates. Your information is secure and your privacy is protected.

    Recent Posts

    • Paramount acquires Bari Weiss’ The Free Press, naming her the top editor of CBS News

      October 7, 2025
    • YouTube to pay $24 million to settle Trump lawsuit

      October 1, 2025
    • Charlie Javice sentenced to 7 years in prison for fraudulent $175M sale of aid startup

      October 1, 2025
    • Video game maker Electronic Arts to be acquired for $52.5 billion

      October 1, 2025

    Categories

    • Economy (245)
    • Editor's Pick (3,646)
    • Investing (650)
    • Stock (6,426)

    Latest News

    • Paramount acquires Bari Weiss’ The Free Press, naming her the top editor of CBS News
    • YouTube to pay $24 million to settle Trump lawsuit

    Popular News

    • Explainer-How to impeach a South Korean president
    • Boeing enters $10 billion credit agreement with banks amid crippling strike

    About The Significant deals

    • About us
    • Contacts
    • Privacy Policy
    • Terms & Conditions

    Copyright © 2025 thesignificantdeals.com | All Rights Reserved

    The Significant Deals
    • Investing
    • Stock
    • Editor’s Pick
    • Economy