Goodyear share prices inch upwards

London – Goodyear Tire & Rubber Co. shares continued a mini-rebound on the Nasdaq this month, reaching a value of $22.54 at close of trading on 23 Nov.

The recent trend on the US exchange provided tentative signs of recovery for stocks in the Akron tire maker, which hit a year-to-date low of $19.81 on 24 Oct.

The pick-up followed third quarter results in which chairman, CEO and president Richard Kramer reported “strong volume growth”, including significant increases in sales of more profitable tire sizes in the US and Europe.

Approaching the yearend, however, Goodyear is still looking at a big mark-down in the value of its shares – currently trading around 30% lower than at the start of 2018.