Lithia Motors shares are trading higher after the company announced the purchase of 13 locations from the Priority Automotive Group in Virginia. The stores are expected to generate over $1.2 billion in annualized revenue.
Portfolio Pulse from Benzinga Newsdesk
Lithia Motors has announced the acquisition of 13 locations from Priority Automotive Group in Virginia, expected to generate over $1.2 billion in annualized revenue.
June 13, 2023 | 6:54 pm
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Lithia Motors' stock is trading higher after announcing the acquisition of 13 locations from Priority Automotive Group, expected to generate over $1.2 billion in annualized revenue.
The acquisition of 13 locations from Priority Automotive Group is expected to generate significant revenue for Lithia Motors, which is likely to have a positive impact on the company's stock price in the short term. The news directly pertains to LAD and is important for investors as it indicates potential growth and expansion.
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IMPORTANCE 80
RELEVANCE 100