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Thyssenkrupp shares hit record low after elevator sale

Reuters
FILE PHOTO: Thyssenkrupp's logo is seen outside elevator test tower in Rottweil

FRANKFURT (Reuters) - Thyssenkrupp <TKAG.DE> shares hit a record low on Friday, falling as much as 5.9% to 6.83 euros per share following the sale of their best performing asset, elevators, last week.

Analysts and investors have urged the conglomerate to quickly develop a new strategy following the 17.2 billion euro ($19.4 billion) disposal, which leaves Thyssenkrupp with a huge cash pile but no equity story for the rest of the group.

(Reporting by Christoph Steitz and Hakan Ersen; Editing by Riham Alkousaa)