MGA May 2024 55.000 put
| Previous Close | 5.60 |
| Open | 8.10 |
| Bid | 6.70 |
| Ask | 9.10 |
| Strike | 55.00 |
| Expire Date | 2024-05-17 |
| Day's Range | 8.10 - 8.59 |
| Contract Range | N/A |
| Volume | |
| Open Interest | 508 |
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- Reuters
UPDATE 1-Magna lags profit estimates, cuts annual sales forecast on supply chain snags
Canada's Magna International missed first-quarter profit estimates and cut its full-year overall sales forecast on Friday, as auto parts suppliers navigate ongoing supply constraints and bumpy demand for electric vehicles. Auto parts suppliers have been struggling with lower-than-expected demand for their EV components, as carmakers shift their focus toward producing affordable hybrid vehicles instead. Magna, which produces powertrains, along with assembling complete vehicles, signed agreements with Fisker in 2020 to engineer and manufacture its Ocean SUV.
