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Why AutoNation Stock Revved Higher Today

·2 min read
Why AutoNation Stock Revved Higher Today
In this article:
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Shares of AutoNation (NYSE: AN) stock jumped 7.7% in 10:35 a.m. EDT trading Thursday after the new-and-used-car dealer reported earnings well ahead of what Wall Street had expected. AutoNation hit an all-time earnings high in Q3 2021, growing its profits 150% year over year on an 18% increase in sales. AutoNation managed to increase its sales despite the fact that "consumer demand continued to outpace supply, driven by consumer desire for personal transportation and ongoing manufacturing supply chain disruptions."