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Here’s Why Aston Martin Share Price Trades Over 7% Higher Today

Practice Stock Trading
Updated: 28 September 2020

Shares of Aston Martin Lagonda Global Holdings PLC (LON: AML) soared more than 7% today after the company’s president for Asia Pac & China region said that he is “very happy with sales” in China for the third quarter.

According to Michael Peng, sales are likely to get back to the pre-pandemic level by the end of the year, if this trend continues.

“We had a very happy sales in Q2 and in particular now,” said Peng to Bloomberg on the sidelines of Beijing Autoshow.

Peng said that according to monthly data, Aston Martin has already returned to pre-pandemic levels. Interestingly, Peng added that in some months the carmaker recorded even higher sales than in some previous years.

Aston Martin share price soared more than 7% to 53.80. Last week, shares plunged over 12% to log a 2-month low.

Aston Martin stock price gains on stronger-than-expected sales in China September 2020