Covid-19 Slams Brakes On Automotive Technology

The automotive technology sector has been hit hard by Covid-19. Lockdown measures worldwide and extensive governmental restriction on long- and short-distance travel mean fewer people have been using and buying cars. At the height of Covid-19 restrictions on movement in April, the number of cars on UK roads dropped down to levels last seen in 1955.1Q2 2020 hedge fund letters, conferences and moreRide-hailing services have also been impacted: at the height of the crisis, demand for rides on Uber dropped by 80 percent and revenue fell by 29 per cent year-on-year. The company cut 3,700 staff duri…

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HEDGE accordingly