Ana­ly­sis of IPOs 2019 and elec­tro­mo­bi­li­ty stocks. Eva­lua­ti­on as of 21/08/2019

Every 14 days, we will inform you free of char­ge about the deve­lo­p­ment of new issues for the cur­rent year, sup­ple­men­ted by equi­ty ana­ly­ses on sel­ec­ted topics. Today’s edi­ti­on is about the deve­lo­p­ment of share pri­ces in elec­tro­mo­bi­li­ty. The weak­ne­ss of elec­tro­mo­bi­li­ty in Ger­ma­ny is reflec­ted in the deve­lo­p­ment of share pri­ces. The share pri­ces of all elec­tro­mo­bi­li­ty values are below the issue pri­ce.

None of the new issues in 2019 could hold abo­ve the issue pri­ce. The share pri­ce of the Glo­bal Fashion Group con­ti­nues to slide. Within six weeks of lis­ting, the stock has alre­a­dy lost more than 26% in value. The stock has also per­for­med signi­fi­cant­ly worse than the over­all mar­ket. With extre­me­ly low tra­ding volu­mes, only Fre­quen­tis shares have so far per­for­med bet­ter than the over­all mar­ket. In view of the dif­fi­cult stock mar­ket envi­ron­ment and the asso­cia­ted extra­or­di­na­ry reluc­tance of inves­tors to issue new shares in the remai­ning three months, we assu­me that at most up to two com­pa­nies will be con­fi­dent of going public suc­cessful­ly.

Elec­tro­mo­bi­li­ty is often refer­red to as a mega­trend. In 2017 and 2018, new issues in Ger­ma­ny were included in this sec­tor for the first time. Howe­ver, the­re were only three issuers. With the excep­ti­on of Aumann AG, AKASOL and Vol­ta­box are rela­tively small com­pa­nies that ser­ve niches with bat­tery solu­ti­ons in the elec­tro­mo­bi­li­ty sec­tor.

Other Ger­man com­pa­nies lis­ted on the stock exch­an­ge with a link to elec­tric mobi­li­ty (exclu­ding manu­fac­tu­r­ers of elec­tric vehic­les) are:

  • EDAG Engi­nee­ring Group AG: Secu­ri­ty Solu­ti­ons for Elec­tro­mo­bi­li­ty
  • Manz AG: Plant buil­der for lithi­um-ion bat­te­ries

In addi­ti­on, the­re are other com­pa­nies, such as Mah­le AG, which is almost exclu­si­ve­ly owned by two major share­hol­ders or com­pa­nies such as IBU-tec advan­ced mate­ri­als AG, who­se bat­tery mate­ri­als busi­ness unit accounts for only a very small part of total sales.

In con­trast to the media pre­sence, elec­tro­mo­bi­li­ty in Ger­ma­ny still leads a shadowy exis­tence in prac­ti­ce. The €4,000 fun­ding award­ed by the fede­ral govern­ment and manu­fac­tu­r­ers would have expi­red in June 2019 and was exten­ded until Decem­ber 2020. In the first half of 2019, just 31,059 new elec­tric cars were regis­tered, inclu­ding fac­to­ry regis­tra­ti­ons. This cor­re­sponds to almost 1,7% of all new regis­tra­ti­ons. It is embar­ras­sing that the­re are also deli­very dif­fi­cul­ties with the few new regis­tra­ti­ons.
(Source: auto motor und sport, 09.07.2019, https://www.auto-motor-und-sport.de/verkehr/elektroauto-neuzulassungen-deutschland-juni-gesamtjahr-2019)

The weak­ne­ss of elec­tro­mo­bi­li­ty in Ger­ma­ny is reflec­ted in the deve­lo­p­ment of share pri­ces. The share pri­ces of all elec­tro­mo­bi­li­ty values are below the issue pri­ce. For exam­p­le, Vol­ta­box suf­fe­r­ed a pri­ce loss of over 72% in the last 30 calen­der days with an extre­me vola­ti­li­ty of 227%. The initi­al Shoo­ting­star Aumann AG is also below the issue pri­ce by over 64%. All three new issues from the elec­tro­mo­bi­li­ty sec­tor have per­for­med worse than the over­all mar­ket.

More in our cur­rent short ana­ly­sis.…

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