World News – CA – Aston Martin changes gears after calling for backup

Aston Martin Lagonda shares launched today after the luxury sports car maker’s latest bailout recapitalization and partial sale to Mercedes-Benz

But although the bombed stock had a rare good session in the wake of the news, increasing 4¼p, or nearly 8 percent, to 58¾p, not everyone was impressed

Panmure Gordon, the stockbroker, said the latest shuffle just saved him time and reiterated his recommendation to “sell” with a price target of just 17p

The British brand has gone bankrupt seven times in its 107-year history and only avoided an eighth bankruptcy last winter when it was rescued by investor Lawrence Stroll and a group of billionaires

Aston Martin, Mercedes-Benz, Daimler AG, Tobias Moers