The Motor Company stock has fallen from over $40 per share in Sept 2008 to under $15.
More bad economic news for the motorcycle industry comes with national media reports about
Harley-Davidson troubles. Stock analysts, like Goldman Sachs, have downgraded The Motor Co’s rating to “sell” – causing share prices to dip.
Hard economic times have dramatically affected Harley-Davidson’s stock price. On September 15, 2008, the firm’s share price was trading at a lofty high of $42.80. The price plummeted amid the world-wide economic troubles, bottoming for 2008 at $12.04 on November 17. As of January 12, 2009, Harley shares closed at $14.13.
Financing is mentioned as a key problem in the multiple reports for H-D’s tumble. Another factor, one would have to assume, are the tighter purse strings forced by a national recession. How many 2008-2009 Hog purchases were put on the back burner as aging Boomers saw retirement accounts evaporate in the stock market meltdown?
The latest turn of events continues the up-and-down 2008 for the Milwaukee company. Summer triumphs included the acquisition of Italian marque MV Agusta, finalized in August.
Third quarter 2008 Harley-Davidson earnings, however, showed decreases from 2007 and the company announced “narrowed” shipment expectations and share earnings. In mid December, it was announced that
Harley’s President and CEO, James Ziemer, will retire in 2009.