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Shares of luxury automaker Aston Martin lost up to 6.5% during its London market debut Wednesday, after investors and analysts worried that it could be difficult to achieve the ambitious launch of new models.
The company, which made its first profit since 2010 and went bankrupt seven times last year, valued its shares at 19 pounds each, giving it a market capitalization of 4.33 billion pounds (5.63 billion pounds). billions of dollars).
The shares fell to 17.75 pounds and lost 3.16% at 07:59 GMT.
Aston Martin had initially set a range of £ 17.50 to £ 22.50 per share, but that Monday was reduced to £ 18.50 to £ 20, stating that the interest purchased was sufficient to cover all the shares sold.
Investors and analysts, however, were concerned about the risk of execution associated with its plans to roll out new models: Aston Martin plans to launch a new base model every year by 2022.
"Aston Martin has very aggressive growth plans.The execution of this growth must be flawless – nothing consumes more money than a car manufacturer when the cycle starts. That's more cyclical than the commentary was, "said James Congdon, general manager of Cash Returns Specialist, Quest.
"The banks did a good job for their client, but there is no rebound."
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