Auto1 moves up to the MDAX

Auto1's IPO was only four months ago, and the company will soon be promoted to the MDAX: As of June 21, Auto1 will be represented there, replacing Siltronic.

Auto1 went public in February, and on June 21 the start-up will join the MDAX. Analysts have seen the potential for some time, but a company has to be listed for 30 days before it can switch. Auto1 is making way for chip supplier Siltronic, which is being relegated to the SDAX.

The start-up raised 1.8 billion euros with its IPO, and the share price rose by 50 percent in the meantime. At the beginning of the week, however, the share price fell as 9.7 million shares were placed overnight. Seven shareholders had monetized their share packages and sold to institutional shareholders. On Wednesday, the share price fell by eight percent, and on Thursday by a further five percent at times.

With the change in the MDAX, index-oriented funds have to reallocate, making Auto1 even more attractive for investors. The company is still in the red, but its adjusted operating loss narrowed from 22 million euros to 14 million euros in the first quarter of 2021.

Four times a year, the stock market decides on its composition. In addition to Auto1's promotion, there are three advancers to the SDAX, while the DAX and TecDAX remain unchanged.