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The Globe and Mail Published January 14, 2021
Shares of vehicle seller and repair company
AutoCanada Inc. (ACQ-T) continue to accelerate amid growing demand for automobiles, including from some consumers nervous about using public transit due to the pandemic.
The Edmonton-based company’s stock is up about 20 per cent so far this year and has soared by about 160 per cent over the past year. Analysts say shares of the company, which sells new and used vehicles and parts and repair services across North America, are benefitting from consumer demand as well as operational improvements and a move into digital services.
AutoCanada’s stock reached $30.65 on Nov. 18, its highest level in more than five years, days after reporting it had exceeded $1-billion in sales in the third quarter, a first for the company for a single quarter. It was a dramatic recovery from its price of $4.60 in March, the stock’s lowest level in about a decade. The stock was hit hard, alongside the bro
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