Investors Flock to Auto Retail Stock as It Hits New Highs
ANAutoNation(AN) MarketBeat·2024-08-02 20:31

Investors have grown worried about the current state of the United States economy, especially now that the ISM Manufacturing PMI index has delivered a 21-month contraction. A reading of 46.8% for July makes it the worst reading in nearly two years. Markets figured that the promise of interest rate cuts from the Federal Reserve (the Fed) was insufficient to justify higher stock prices amid declining fundamentals.AutoNation TodayANAutoNation183.986.74 (3.53183.98 -6.74 (-3.53%) 52-Week Range123.81▼$197.18P/E Ratio8.72Price ...