(Alliance News) - Pasquarelli Auto Spa said Tuesday in the evening that it was not aware of any news that could justify the current performance of the stock, "which, moreover, occurred in the absence of negative events."

Marco Pasquarelli, chief executive officer of Pasquarelli Auto commented, "We do not understand the anomalous and unmotivated volatility that is characterizing the recent performance of the stock, which in our opinion does not reflect the company's performance and therefore remains without a valid financial rationale. The current fiscal year is proceeding as planned by management, and we are confident that we can continue on the path of corporate growth and development that has distinguished us for decades."

"Thanks to the listing, we can also give a further important boost to the strategies disclosed to the market at the IPO, of the validity of which we remain firmly convinced and confident. As a further reconfirmation of this, I have personally purchased Pasquarelli Auto stock, as disclosed to the market, fully aware of the validity of our company's industrial and strategic development project."

Pasquarelli Auto's stock on Tuesday closed 2.1 percent in the red at EUR1.18 per share.

By Chiara Bruschi, Alliance News reporter

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