Wednesday, February 3, 2010

Toyota torched as Transportation Secretary says "stop driving" their cars. (TM)

Toyota (TM) shares continue their free fall on the gas pedal recall.  They're off 7.5% today to $72.53 per share, as Transportation Secretary Ray LaHood has told people to literally stop driving the affected vehicles.

"LaHood says his advice to owners is to "stop driving it. Take it to a Toyota dealer because they believe they have a fix for it."

And that advice can be seen in the disparate stock performance of Toyota and it's dealers, who stand to make big $$$ on the recall repairs.  The five day performance difference between Toyota and Group 1 Automotive (GPI) is nearly 15%

GPI is heavily weighted towards Toyota and its affiliated brands:

Copyright 2010 AlphaNinja

No comments:

Post a Comment