Market Overview

Berkshire Hathaway Inc. Car Dealer Acquisition Puts Other Dealers In Play

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Following the news of the Berkshire Hathaway Inc. (NYSE: BRK-B) purchase of the privately held Van Tuyl Auto Group, other names in the auto dealer space appear to be garnering interest from speculators regarding the next potential candidate for acquisition.

In the automotive data provider sector, both TrueCar Inc (NASDAQ: TRUE) (up 5 percent) and Autobytel Inc. (NASDAQ: ABTL) (up 5.7 percent) have seen large stock and volume increases.

Auto Dealer stocks are also seeing a nice two-day ramp. Some of the notable names and two-day gains include:

  • Auto Nation, Inc. (NYSE: AN): $53.58, +9 percent
  • Penske Auto Group, Inc. (NYSE: PAG): $43.55, +7 percent
  • Lithia Motors Inc (NYSE: LAD): $84.10, +14 percent
  • Asbury Automotive Group, Inc. (NYSE: ABG): $68.75, +8.75 percent
 

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