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.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100