The Italian automaker Fiat's just as confused as we are as to why shares in the company surged skyward as high as 10% today. In fact, that was so high, it actually triggered the automatic suspension of trading in the maker of the cinquecento (and we've heard they even make other cars, too!) on the Milan stock exchange. We're assuming the speculation flooding the trading pits this morning that the company might be preparing to announce the sale of its truck unit Iveco may have had something to do with it. In fact, it caused the automaker to issue a strongly worded release this afternoon shooting down those rumors:
"In particular, with regard to rumors on possible divestitures, no significant assets are being sold nor are expected to be sold, except for those activities that have already been disclosed to the market."
Why do we feel like with Fiat's luck they're gonna drop like a rock tomorrow and cause an automatic suspension the other direction?
Fiat can't explain stock surge, denies sale of significant asset [Detroit News]
Related:
Size Apparently Not Important: Fiat 500 Tops Sexy Car List [internal]