Bill Gates' Investment Vehicles Continue To Buy AutoNation (AN), Sparking Share Rally
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Just days after boosting his stake to 10%, Bill Gates' investment vehicles, Cascade Investment and Bill & Melinda Gates Foundation Trust, continue to scoop up shares of battered auto retailer AutoNation, Inc. (NYSE: AN).
Gates' recent buying has sparked a rally in the stock. The stock which started the week at $6.45 are currently trading at $8.53, a gain of 32%.
Filings released moments ago show that Gates' groups bought 727,500 shares on 11/25 at an average price of $7.71 and 172,500 shares on 11/26 at an average price of $8.07.
Gates' groups now control 20,857,788 shares of AutoNation. With the 13G filing released Nov 23, the groups showed they owned 17,757,788 shares.
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