FRANKFURT (dpa-AFX) - Auto1 shares only briefly extended the previous day's rally on Thursday. After matching their one-month interim high of 21.60 euros, they retreated by midday, falling 2.2 percent to 20.20 euros as one of the weakest performers on the MDax. This brings the year-to-date loss to 26 percent, placing the stock among the laggards in the German mid-cap index for the period.
On Wednesday, shares of the online used-car dealer had traded without a clear direction for much of the session following the release of quarterly results and the confirmation of full-year guidance. After hitting a low in the early afternoon, the 50-day moving average—a key indicator for short-to-medium-term trends—provided support. The stock subsequently gained momentum to close up 12.9 percent. No market-moving news has yet emerged from the afternoon conference call, during which the company also announced its annual Capital Markets Day for June 17.
Late Wednesday, JPMorgan analyst Marcus Diebel noted that Auto1 had delivered a strong start to the year, echoing the generally positive market sentiment. However, he also pointed to the 'unnecessary volatility' of the shares during the trading session. He emphasized that the fundamental trend remains clear, characterized by rapidly increasing volumes, efficient inventory management, and continued growth in operating profit (EBITDA). Diebel expects the upcoming Capital Markets Day to provide further details on divisional performance—a key metric for investors—as well as updates on long-term strategic targets./gl/mis/nas
