Why we bought AUTC
AutoChina International takes leasing vehicles to a new level
Written by Douglas Estadt:
AutoChina International Ltd (AUTC) is involved in leasing commercial vehicles and providing after-sales support, road-side assistance, and value-added services. Check out some other reasons why we bought this stock:
- Great opportunity to sell the "picks, axes and blue jeans" to Chinese entrepreneurs.
- They lease the trucks that build the foundation for Chinese businesses and allow them to function properly (i.e. picks and axes).
- Have low P/E ratio and recently completed secondary offering of 2 million shares at $35.
- High insider ownership- it was announced that there was a $500,000 recent share purchase made by CFO Jason Wang
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The offering could become the second-biggest this year if underwriters exercise an option to buy more shares.
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