Car dealership bubbleBubble guy :D funny name, but i love puts more then calls.
Car business was and still doing very very well, high demand, higher prices, and more premium profit.
the problem is, car dealership providers are showing more inventory and steady sales growth in term of finance not in the number of cars sold.
the issue will worsen as long as inflation is above 4% and more FED hikes are coming, which means more unemployment rate and less spending in cars and utilities.
The issue will impact the cash flow and sales growth possibly starting from next quarter Q1 2023.
GPI is heading to a resistance line in around 200, that will be a good entry for PUTs. if it breaks the resistance at 200, that will be definitely a good entry for PUTs.
Patience, cash, cash and patience are the keys for success.
Good luck,
Sam
*Not financial advise
*Trade with you own risk
