Wow. With all the talk of electric cars, hydrogen fuel cells, drones, hybrids, and generally going green, Carl Icahn has out bid Bridgestone in a bidding war (none the less) for the automotive aftermarket behemoth, Pep Boys. (800 stores!) He even said he would beat any bid by .50.share, and will pay a huge fee, ($39.5 million breakup to terminate the initial deal officially), to close the transaction. So, with all this news about crashing oil prices, stock market crashes, and green tech bulls, what does he see? Are all the car manufacturers switching over to electric so there will only be aftermarket parts? What does he see?
Apparently, Bridgestone was after their tire business and some say that Icahn will sell this part of the business to Bridgestone after the deal closes, next year. If gas prices catch up with oil, and oil stays down, it may be time to start shorting those green stocks. Also, it may to time to look at some of Pep Boys competitors.