New Hire News Sends Rolls-Royce Stock Into Full Supernova

By Timothy Sykes

Last updated on April 18, 2022
New Hire News Sends Rolls-Royce Stock Into Full Supernova Thumbnail

Rolls-Royce Holdings plc (OTC Pink: RLLCF) stock spiked as much as 470% on Tuesday after announcing a new CFO over the weekend.

RLLCF isn’t the main ticker symbol for Rolls-Royce in U.S. markets. The company also trades under the tickers RYCEF and RYCEY on OTCMarkets. Those tickers barely moved on Tuesday.

The company trades on the London Stock Exchange under the ticker symbol LON: RR.

Rolls-Royce is probably best known for its ultra-luxury vehicles with price tags starting at $300K.

However, the company is also a leading manufacturer of aviation engines. The UK-based company supplies both Airbus (privately held) and The Boeing Company (NYSE: BA) with engines for many of their most popular aircraft.

The vast majority of commercial aviation engines are produced by General Electric Company (NYSE: GE), Pratt & Whitney (privately held), and Rolls-Royce.

The business has been hit hard after the travel industry was all but shut down in 2020.

Panos Kakoullis, who spent 30 years at the accountancy giant Deloitte has been named the new CFO.

According to a report from Sky News, Kakoullis “has no direct CFO experience at a FTSE-100,” which is the main stock index for the London Stock Exchange. The Sky report states that “One former colleague of [Kakoullis] said he was ‘ideally suited’ to the job, having advised blue-chip names including Tesco and Vodafone.”

Last year, Rolls-Royce cut 9,000 jobs and raised nearly $7 billion in new debt. This year, the company plans to temporarily close its jet-engine factories over the summer, which is expected to affect 19,000 employees.

Despite the challenges that lay ahead, U.S.-based traders piled into RLLCF stock when the market opened on Tuesday morning.

RLLCF closed at 1.7 cents per share on Friday. Tuesday morning, the price spiked as high as 9.8 cents per share, an increase of 470%. At writing, the stock is trading near 6 cents per share still up nearly 250% on the day.

Penny stock trading teacher Timothy Sykes commented, “No penny stock, C-class or main ticker, is a good long term-investment. Trade whatever is hot.”

Posts contain affiliate links. Timothysykes.com may get compensated for affiliate posts and purchases through links.

Image: Jonathan Weiss/Shutterstock.com

Share

How much has this post helped you?

star star star star star
Comments (1)
Author imageTimothy Sykes
Hey Everyone,

As many of you already know I grew up in a middle class family and didn't have many luxuries. But through trading I was able to change my circumstances --not just for me -- but for my parents as well. I now want to help you and thousands of other people from all around the world achieve similar results!

Which is why I've launched my Trading Challenge. I’m extremely determined to create a millionaire trader out of one my students and hopefully it will be you.

So when you get a chance make sure you check it out.

PS: Don’t forget to check out my 30 Day Bootcamp, it will teach you everything you need to know about trading.

Leave a Reply