Stellantis Shares Slide 5.7% and 5.6% Pre-Market; 111 Capital Cuts Stake 64%
Stellantis shares plunged 5.69% to $7.63 at Monday’s close and slid another 5.64% pre-market to $7.20 after Iran closed the Strait of Hormuz, cutting over 27% of global crude exports and pushing oil prices higher. Meanwhile, 111 Capital reduced its stake by 64.1% to 65,050 shares.
1. Geopolitical Tensions and Oil Price Surge
Stellantis shares fell 5.69% to $7.63 at Monday’s close and dropped an additional 5.64% pre-market to $7.20 after Iran closed the Strait of Hormuz, a route responsible for over 27% of global crude exports. Regional disruptions intensified when QatarEnergy suspended LNG production following military strikes, driving benchmarks higher and weighing on automaker valuations.
2. Stake Reduction by 111 Capital
During the third quarter, 111 Capital sold 116,313 Stellantis shares, cutting its position by 64.1% to 65,050 shares. This reduction reflects a shift in the fund’s exposure to European auto manufacturers and may signal changing institutional sentiment toward the sector.