From Alphastreet - Earnings Decoded. Market Intelligence Delivered · AlphaStreet Newsdesk · · 50s
Group 1 Automotive Shares Drop 5.5% Amid Sector Selloff
Group 1 Automotive shares fall 5.5% as auto dealership stocks tumble together.
In brief
Group 1 Automotive shares fall 5.5% as auto dealership stocks tumble together. Group 1 Automotive dropped 5.5% on Wednesday as sector-wide selling affected all major auto dealership stocks. Originally reported by Alphastreet - Earnings Decoded. Market Intelligence Delivered.
Group 1 Automotive Shares Drop
Group 1 Automotive plunged 5.5% on Wednesday as a sharp sector-wide selloff dragged down auto and truck dealership stocks.
All Peers Decline
All five of Group 1’s major publicly traded peers closed lower on the day, with Lithia Motors down 7.2%, AutoNation down 4.4%, Asbury Automotive Group down 4.2%, and Sonic Automotive down 4.4%.
Sector-Wide Selloff
The decline was part of a coordinated downdraft across the dealership sector with volume at 106,597 shares and market cap at $2.7 billion.
The key point
Group 1 Automotive dropped 5.5% on Wednesday as sector-wide selling affected all major auto dealership stocks.
