Did you buy and hold our Thursday pick, NIO, through the long weekend? You’re glad if you did, NIO is up more than 20% in pre-market trading to $11.33.
Global markets are starting the week with a bang. China’s Shanghai Composite just posted its biggest advance since 2015. Bullish sentiment is said to have been sparked by China’s influential state media early in the trading day.
Futures are green for the four major indexes as we approach the opening bell here in the U.S. markets. Dow futures are pointing to a gain of 350 points or 1.4%
The good news here in the U.S. is that the number of Coronavirus related deaths is falling, despite a surge in the number of cases.
Today we are looking at one company that recently had some big shifts in management. Major improvements for this tried and true iconic American brand are on the way.
Harley Davidson (HOG) has been under stress from Wall Street due to a looming demographic challenge as it has struggled to attract new riders. Recently CEO Matt Levatich stepped down and was replaced by Jochen Zeitz who is strategizing a “rewire” for the company.
“As a result of my observations and assessment, I’ve concluded that we need to take significant actions and rewire the company now in terms of priorities, execution, operating model and strategy to drive sustained profit and long term growth. We’re calling it The Rewire and it’s our playbook for the next few months, leading to a new five-year strategic plan which we’ll share when visibility to the future returns.” Zeist said during a first-quarter earnings call with analysts.
HOG stock just received an upgrade to “Buy” according to new coverage at Citi, which notes their attractive valuation and potential for a significant turnaround under the company’s new CEO.