John Deere (NYSE: DE) price today is down 0.79% from yesterday's close of $366.98 per share. This is following news of individual farmers and repair shops revolting with lawsuits regarding the right to repair John Deere tractors.
What Is John Deere?
John Deere is the leading provider of agricultural and forestry machinery in the world. They manufacture and distribute machinery, heavy equipment, diesel engines, drivetrains, lawn care equipment and more. Established in 1837, Deere & Company has been providing quality equipment to farmers, contractors, and homeowners for generations.
Why Are Investors Interested in Deere & Company (DE) Stock?
State legislation regarding the right to repair may impact a valuable revenue stream, but long-term investors may be more interested in how John Deere is a looking towards the future. The company recently selected seven companies for their 2022 startup collaboration program: Burro, Crop.Zone, Four Growers, SeeDevice, Ucropit, ViewAR, and Yard Stick. “Agriculture is a domain ripe for technology pioneering, and the startup collaborator program is a way to travel that journey together with others” says director of emerging technology, Julian Sanchez.
Additionally, Deere has been dubbed the Tesla of tractors with the recent reveal of a fully autonomous tractor that's ready for large-scale production. With global population expected to grow to nearly 10 billion people by 2050, technology advancements will prove to be a major importance for the company. Along with Caterpillar (CAT), John Deere is also well-positioned for a demand increase as the government looks to invest in critical sub-sectors of infrastructure.
John Deere Is Only the Beginning
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