U.S. Fund Invest Over $1 Billion in FCA Stock:

U.S. Fund Invest Over $1 Billion in FCA Stock:
Tiger Global Management Becomes 4th Largest Share Holder...

Chrysler World Headquarters and Technology Center in Auburn Hills, Michigan. (Mopar Insiders)

According to the Automotive News, Tiger Global Management has more than doubled it’s shares in Fiat Chrysler Automobiles (FCA) since the end of June. Holding 59.67 million shares of FCA stock, the U.S. fund is now the 4th largest investor of FCA. Sources at Bloomberg state that at the end of June, Tiger Global Management held only 26.05 million shares of the world’s seventh largest automaker.

Tiger Global Management currently has $22 billion of total assets in which it oversees. Now $1 billion of that total is FCA.

With shares of FCA stock taking a dive after the passing of former CEO Sergio Marchionne, the market was unsure of FCA’s future plans. With the new CEO Mike Manley who has been with the company for the past two decades taking the reigns, there has been a lot of uncertainty if the company will take the same path Marchionne laid out prior to his death. As reported earlier today, Manley will announce his changes by the end of the month.

Read the complete article here:
https://moparinsiders.com/u-s-fund-invest-over-1-billion-in-fca-stock/

 

[AlexB]

Tiger fund buying $FCAU shares is a positive sign of confidence given the structure of FCA where John Elkann and his family (through EXOR) is not only the largest shareholder, but has identical voting power that the Ford family has in Ford Motor Company.

In otherwords an outside investor that didn't like the direction of FCA,the only actions they can do is make a case to John Elkann or sell the stock.