No, the vehicle manufacturers cancelled chip orders when covid hit, because they expected production to decrease. The chip manufacturers sought alternative customers and now the car industry needs to wait for their turn in the queue.
The BUD issue is completely different. They didn't/couldn't/wouldn't pay up for the chips they knew they needed (and had ordered), so they were sold to another party. This is because of the CEO/CFO financial mismanagement. They spent ALL of the money on rapid and unsustainable production, without any care for adequate risk management. They have been unable to turn the production into cash quick enough and ran out of money to pay suppliers to continue production. Now they don't have a supplier.
BUD Price at posting:
4.3¢ Sentiment: None Disclosure: Held
