AutoNation shares rise on news of Gates' stake

By Associated Press
July 22, 2008
Comment (0)
Recommended (0)

Shares of automotive retailer AutoNation Inc. jumped Tuesday on news that Microsoft Corp. founder Bill Gates owns a 5.5 percent stake in the company.

AutoNation shares rose 81 cents, or 9.7 percent, to end at $9.17. Volume surged to more than 7 million shares, more than twice the average daily trade.

Over the past 52 weeks, the company's shares have traded between $7.30 and $21.79.

In a filing with the Securities and Exchange Commission late Monday, Cascade Investment LLC, Gates' private investment vehicle, reported owning 5.3 million AutoNation shares, representing a 2.9 percent stake in the company.

In addition, the Bill & Melinda Gates Foundation Trust owns 4.6 million shares in the company for a 2.6 percent stake, the filing said.
Comment (0)
Recommended (0)

Comments from our Foolish Readers

Help us keep this a respectfully Foolish area! This is a place for our readers to discuss, debate, and learn more about the Foolish investing topic you read about above. Help us keep it clean and safe. If you believe a comment is abusive or otherwise violates our Fool's Rules, please report it via the Report this Comment Report this Comment icon found on every comment.

Be the first one to comment on this article.

Report This Comment

Use this area to report a comment that you believe is in violation of the community guidelines. Our team will review the entry and take any appropriate action.

Sending report...

Compare Brokers

TD AMERITRADE
more info
ShareBuilder
more info
Power E*Trade

more info
Scottrade
more info
Fool Disclosure

DocumentId: 690324, ~/articles/articlehandler.aspx, 8/29/2008 10:42:41 PM,

Sign up for FREE Motley Fool site access!

Already registered? Login Here

It’s FREE! Enter your email address, and we’ll rush you to the article you're looking for right now.

Privacy / Legal Information

We will use your email address only to keep you informed about updates to our web site and about other products and services that we think might interest you. The Motley Fool respects your privacy. Please read our Privacy Statement

.

Related Tickers

AutoNation, Inc.

AN Down! $11.35 -0.13 (-1.13%) 4:01 PM
CAPS Rating:
117 Outperforms
39 Underperforms
Rate This Stock
Related Articles about AN
Articles mentioning AN

Major Indices

S&P 5001,282.83 -1.37%
DJIA11,543.55 -1.47%
RSL 2K739.50 -1.11%
NASD2,367.52 -1.83%
Updated: 5:10:01 PM
Sponsored by:

The Motley Poll

Where will the U.S. dollar go from here?

Sponsored by: