Why Shares of Adient Climbed Higher in September
Shares of Adient (NYSE: ADNT) rose 13.8% in September, according to data provided by S&P Global Market Intelligence, fueled by investor hopes for a thaw in trade tensions between the U.S. and China. The stock was actually up nearly 30% in early September before falling back somewhat as the month wore on.
Adient, an automotive seating specialist that was spun out of Johnson Controls in 2016, has had a roller-coaster 2019, with shares down 33% in March but then rising 78% in April. Auto companies have been pushed and pulled by worries about an economic slowdown, which could eat into auto sales, and suppliers in particular have been impacted by the threat of tariffs on goods shipped between China and the U.S.
An Adient interior concept. Image source: Adient.
Source Fool.com
