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In a challenging market environment, LVWR stock has touched a new 52-week low, with shares plummeting to $4.33. According to InvestingPro data, the stock's RSI indicates oversold territory, while the company maintains a strong liquidity position with more cash than debt. This significant downturn reflects a broader trend of investor caution, as the company grapples with headwinds that have seen its stock price severely underperform over the past year. The AEABridges Impact 1 Year Change data underscores the extent of the decline, revealing a stark -59.62% drop. With a weak Financial Health Score of 1.35 and concerning gross profit margins of -40.75%, this downturn has undoubtedly shaken investor confidence. InvestingPro subscribers can access 12 additional key insights and a comprehensive Pro Research Report to better evaluate the company's potential recovery prospects, as stakeholders closely monitor the company's performance for signs of a potential rebound or further decline.
In other recent news, LiveWire Group has announced a comprehensive services agreement with Harley-Davidson (NYSE:HOG), set to commence on January 1, 2025. The deal includes a range of services, such as testing and development, regulatory support, and customer service. Additionally, LiveWire has expanded its strategic partnership with KYMCO to develop its first electric maxi-scooter, targeting the European market in the first half of 2026.
In financial updates, Harley-Davidson reported a downturn in Q3 2024 earnings, with a 13% drop in global retail sales of new motorcycles and a 26% decrease in consolidated revenue. Despite these challenges, Harley-Davidson's financial services saw a 10% increase in revenue. The company has revised its full-year outlook due to these recent developments.
LiveWire, Harley-Davidson's electric vehicle division, also adjusted its yearly unit expectations to 600-1,000 motorcycles in response to market difficulties. The company's operating income fell by 49% to $106 million, and earnings per share were down 34% to $0.91. These are among the recent developments for Harley-Davidson and LiveWire Group.
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