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We recently compiled a list of the 10 Stocks Lead Wednesday's Charge, Mirror Broader Gains. In this article, we are going to take a look at where Stellantis N.V. (NYSE:STLA) stands against the other stocks.
US shares stayed firmer on Wednesday, with all major indices finally eking out gains as President Donald Trump softened on trade restrictions for three large automakers, reviving hopes that the trade war may not be as bad as it seemed.
The Dow Jones grew 1.14 percent, the S&P 500 rose by 1.12 percent, while the tech-heavy Nasdaq jumped 1.46 percent.
On Wednesday, the White House granted three large automakers a one-month exemption from tariffs after a call with the president, sending their share prices higher during the session.
Ten firms also mirrored the broader optimism, posting strong gains during the day. In this article, we have listed the 10 names and detailed the reasons behind their performance.
To come up with Wednesday’s top gainers, we considered only the stocks with $2 billion in market capitalization and $5 million in daily trading volume.
A close-up view of a modern automobile with its sleek curves and luxurious body.
Stellantis N.V. (NYSE:STLA)
Stellantis N.V. (NYSE:STLA) rallied by 9.24 percent on Wednesday to finish at $12.89 per share as investors welcomed news that the White House granted the three largest automakers a one-month tariff exemption after a call with President Donald Trump.
Stellantis N.V. (NYSE:STLA), alongside Ford and General Motors, were given a one-month tax reprieve on their autos coming through US, Mexico, and Canada until April 1.
“Reciprocal tariffs will still go into effect on April 2nd, but at the request of the companies associated with USMCA (US-Mexico-Canada Agreement), the president is giving them an exemption for one month so that they are not at an economic disadvantage,” read White House press secretary Karoline Leavitt.
However, Stellantis N.V. (NYSE:STLA) warned its US dealers on Wednesday that the now-in-effect 25-percent tariffs on imports from Canada and Mexico will put their products at a disadvantage against competitors from Asia and Europe.
Overall STLA ranks 8th on our list of Wednesday's top gainers. While we acknowledge the potential of STLA as an investment, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and doing so within a shorter time frame. If you are looking for an AI stock that is more promising than STLA but trades at less than 5 times its earnings, check out our report about the cheapest AI stock.