Stock Market News

Nissan shares jump more than 20% after activist Effissimo takes stake

11/12/2024

Less than a minute

2024.11.12 01:15

© Reuters. FILE PHOTO: A Nissan logo is seen at the New York International Auto Show Press Preview, in Manhattan, New York City, U.S., March 27, 2024. REUTERS/David Dee Delgado/File Photo

TOKYO (Reuters) – Nissan (OTC:) Motor shares jumped as much as 20.6% on Tuesday after a filing showed an entity related to activist investor Effissimo Capital Management had taken a stake in the struggling Japanese automaker.

In a regulatory filing on Monday, Nissan listed Cayman Islands-registered ECM Master Fund as a shareholder with a 2.5%stake as of end-September. ECM Master Fund is affiliated with Effissimo, according to SEC filings.

11/12/2024

Less than a minute

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