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The Goodyear Tire & Rubber (NASDAQ:GT) is one of the leading companies that manufactures and sells tires globally. It has been in business for more than a century and has 57 manufacturing plants in
The Goodyear Tire & Rubber Is Bouncing Strong In The EV Industry
Summary
- Goodyear most likely will not have its best year this FY22; however, the company remains fundamentally strong thanks to its improving product portfolio.
- It benefits from increased EV investment and relaxed Covid-19 restrictions in China, which boosts GT's demand environment.
- Despite today's challenging environment, GT has reported growth in its top line.
- This is induced by successful price/mix and volume growth.
- It remains liquid and is trading below its average 5-year book value per share.
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Analyst’s Disclosure:I/we have no stock, option or similar derivative position in any of the companies mentioned, but may initiate a beneficial Long position through a purchase of the stock, or the purchase of call options or similar derivatives in GT over the next 72 hours. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from Seeking Alpha). I have no business relationship with any company whose stock is mentioned in this article.
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