[Featured Stock] POSCO Future M Rises Over 5% Despite 'Tesla Shock'

POSCO Future M is rebounding by over 5% after escaping Tesla's 'earnings shock'.

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As of 10:29 AM on the 26th, POSCO Future M is trading at 264,000 KRW, up 5.18% (13,000 KRW) compared to the previous day. The stock price of POSCO Future M had fallen on all but one of the 10 trading days from the 12th to the 25th. The last time it recorded a rise of more than 5% was on December 14 last year (7.53% increase).

The sluggish stock performance was largely due to a weak overall secondary battery market and poor earnings. POSCO Future M's consolidated sales (provisional) for 2023 amounted to 4.7599 trillion KRW, with an operating profit of 35.9 billion KRW. While sales increased by 44% compared to 2022, operating profit decreased by 78%. Moreover, following Tesla's disappointing Q4 earnings announcement the previous day, concerns about a downturn in the electric vehicle industry, which is the primary market for batteries, grew, causing battery-related stocks to fall.

However, battery-related stocks including POSCO Future M have recovered from the 'Tesla shock' in just one day and are generally showing an upward trend. EcoPro (8.05%), EcoPro BM (4.63%), SK Innovation (4.10%), LG Energy Solution (5.16%), and Geumyang (6.66%) are all showing gains of over 4%.

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