Asbury Automotive Group (ABG) Shares Soar 2.6% on Asset Sale, Technical Milestone

Asbury Automotive Group (ABG) shares rose to their highest level since March 2025 today, with an intraday gain of 1.12%.

The strategy of buying ABG shares after they reached a recent high and holding for 1 week yielded moderate returns over the past 5 years, with a 5-year CAGR of 7.98%. While the strategy captured some upside during market rallies, it also experienced significant volatility and underperformance during periods of market downturn. The Sharpe ratio stood at 0.91, indicating a reasonable risk-adjusted return. Overall, the strategy provided a decent, albeit conservative, approach to investing in ABG.

On June 9, 2025, Mike Hong and Jerry Heuer completed the acquisition of Larry H. Miller Toyota Corona from Asbury Automotive Group, Inc. This transaction is likely to have an impact on Asbury Automotive Group's stock, as it involves the sale of one of its assets. The sale of a significant asset can lead to changes in the company's financial structure and operational focus, which in turn can influence investor perceptions and stock performance.

Additionally, Asbury Automotive Group Inc shares crossed above their 200-day moving average, trading up about 2.6% on the day. Such technical indicators can influence investor sentiment and subsequently affect stock prices. When a stock's price moves above its 200-day moving average, it is often seen as a bullish signal, indicating that the stock may continue to rise. This technical milestone can attract more buyers, driving up the stock price further.