ABB’s share price drops against global competition
Three months after ABB’s Capital Markets Day took place in October and the company announced it would retain the Power Grid business, ABB’s share price has dropped against its heaviest competitors in the global market, according to the Swedish media.
During the three months of ABB’s new strategy, the company’s share price remained at the same level and was weaker than the company’s six leading competitors in the US and Europe, reports Di.
ABB’s competitors Rockwell, GE, Legrand, Schneider Electric, Honeywell and Siemens have all created significantly higher returns for their shareholders, according to the comparison conducted by Di.
Over the three-month period, ABB has recorded a negative total return of 1%. For comparison, the average return of the group is 8.9%, and the median is 8%.