TSLA - Panasonic: Chinese Battery Tariffs And A Ticker Change

2024-05-19 08:57:45 ET

Summary

• Panasonic's stock is currently at a low point due to its association with the declining EV industry.
• The US is increasing tariffs on Chinese lithium-ion batteries, potentially making Chinese imports more expensive than US-produced cells.
• Panasonic's ADR ticker changed from PCRFY to PCRHY, and the company terminated its deposit agreement with JP Morgan.

Li Ion battery tariffs are coming

Panasonic (OTC: PCRFF )(OTC: PCRFY ), is back to a level even lower than my last article on the company almost exactly one year ago. The stock thesis attached itself to Tesla ( TSLA ) and the automotive EV industry in general being that Panasonic is being viewed more and more as a battery cell provider rather than a home appliance company. As the EV industry cycles downward, so do the picks and shovels like a Panasonic or an Albemarle ( ALB ). ...

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