20-Year Pro Trader Reveals His "MoneyLine"
Ditch your indicators and use the "MoneyLine". A simple line tells you when to buy and sell without the guesswork. It’s a line on a chart that’s helped Nic Chahine win 83% of his options buys. Here's how he does it.
Needham analyst Chris Pierce reiterated a Buy rating on the shares of ACV Auctions Inc. (NASDAQ:ACVA), raising the price target to $23 from $20.
Dealer hesitancy to transact digitally has decreased meaningfully, the analyst adds.
Dealer "intransigence" towards digital wholesale transactions has rapidly faded, benefiting ACVA as the digital-only/digitally native market leader, the analyst notes.
The analyst notes that ACVA is gaining momentum in the Upper Midwest, where penetration of franchise dealers (wholesale vehicle sellers) has grown slower than in other geographies.
Also Read: ACV Auctions' Better-Than-Expected Q4 Earnings Signal Improvements In The Industry, Says Analyst
Pierce thinks this will eventually translate to market share gains for the company in multiple cities in the Upper Midwest region.
In a bull case scenario, the analyst thinks ACV Auctions will further increase its market leadership by winning a share of off-lease or rental vehicles or can make inroads with a B2C product allowing their dealer community to source retail cars.
Price Action: ACVA shares are trading higher by 0.71% to $17.85 on the last check Tuesday.
20-Year Pro Trader Reveals His "MoneyLine"
Ditch your indicators and use the "MoneyLine". A simple line tells you when to buy and sell without the guesswork. It’s a line on a chart that’s helped Nic Chahine win 83% of his options buys. Here's how he does it.
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