2023-06-15 10:17:22 ET
- Goodyear Tire ( NASDAQ: GT ) gained almost 7% amid some activist investor speculation.
- Goodyear Tire ( GT ) has typically been a presenter at the Deutsche Bank Global Auto Industry Conference in past years, though it isn't at the conference this week, as Gordon Haskett's Don Bilson highlighted in a note on Thursday.
- The note comes after famed activist investor Elliott Investment Management reported a stake last month and said it plans to seek five board seats, as well as the sale of its company-owned store network, sending Goodyear ( GT ) shares skyrocketing 21% on May 11.
- Gordon Haskett's Don Bilson also pointed out that Goodyear's ( GT ) has been in New York several times since late May, including at Teterboro airport in New Jersey on Wednesday.
- Elliot said last month it had an economic interest of 10% in Goodyear and wants the company to explore ways to monetize its Goodyear company-owned store network.
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Goodyear Tire gains amid activist speculation