Official announcements from Nissan's press releases or major financial news outlets

Nissan Shares Surge Over 21% in Largest Jump in 15 Years After Activist Investor Takes Stake

Nov 12, 2024, 12:42 PM

Nissan shares experienced significant volatility recently. Initially, the shares extended their losses due to the company's decision to cut thousands of jobs and reduce production capacity, casting doubt on CEO Makoto Uchida’s turnaround plans. However, the shares surged by more than 21% in late trading Tuesday after activist investor Effissimo Capital took a 2.5% stake in the company. This marks the largest jump in Nissan shares in 15 years. Effissimo Capital is known for its high-profile campaigns against major Japanese companies. The investment by the Cayman-affiliated company has been seen as a potential boost to Nissan’s ongoing turnaround efforts.