As people turn to bikes to avoid public transport, especially in the UK and France, the Japanese brand is poised to take advantage of the surge in demand. As such, Shimano has seen its stock rise to a record high on June 16 after a spike in cycling during the COVID-19 pandemic.
Shimano endured a turbulent start to the year as it was forced to close its factories and its stock plunged as low as ¥13,240 on March 16 but it has risen rapidly since then and hit ¥20,760 on June 16. Its previous record high before the pandemic was ¥19,300 in March 2015.
A report in Bicycle Retailer and Industry News indicates that stocks are buoyant across the industry and the B2B publication noted that Giant, Accell Group, Thule Group, Fox Factory, MIPS and Dorel Industries had shown similar patterns to Shimano.