Car Stock Price Quick Win by the Algorithm: CAR Keeps Rolling To Profit

Quick Win by the Algorithm

On June 20th, 2017, the I Know First algorithm issued a bullish forecast for Avis Budget Group, Inc. (NYSE:CAR). CAR had a signal of 21.96 and a predictability of 0.27. As a result, in accordance with the forecast, the company’s stock had a return of 22.87% within 14 days, showing a quick win by the algorithm.

Car stock price

Avis Budget Group, Inc., together with its subsidiaries, provides car and truck rentals, car sharing, and ancillary services to businesses and consumers worldwide. The company operates through two segments, Americas and International. It operates the Avis brand car rental system with approximately 5,550 locations that supply rental cars to the premium commercial and leisure segments of the travel industry; the Budget brand vehicle rental system with approximately 4,050 car rental locations, which serve the value-conscious segments of the industry; and the Zipcar brand, a membership-based car sharing network that provides vehicles to approximately 1 million members.

Car stock price

On June 26th, 2017, Avis Budget Group Inc. (NYSE:CAR), increased by 8.6% in a single morning. This increase was due to striking a deal with Alphabet Inc.’s (NYSE: GOOGL). In fact, the deal constitutes that CAR will provide support and maintenance services for Waymo’s self-driving car program. Additionally, Avis will enhance some of its rental facilities to offer services and secure parking for Waymo’s autonomous vehicle fleet. The services Avis will offer include: cleaning, oil changes, tire rotations, checking and installation of automotive parts and other necessary support and maintenance. Avis gets a steady flow of income for its services in the multiyear deal, and Alphabet’s Waymo arm gets access to thousands of vehicles and millions of potential customers in its vision to move forward with its autonomous driving dreams.

This deal provides CAR with a key partnership with one of the leaders in the autonomous car industry. The autonomous car industry continues to grow and revolutionize the way the world uses transportation. As a result, CAR is a company to watch in the future.

Current I Know First subscribers received this bullish CAR forecast on June 20th, 2017

Before making any trading decisions, consult the latest forecast as the algorithm updates predictions daily. You can use the algorithm for intra-day trading. The predictability tends to become stronger with forecasts over longer time-horizons such as the 1-month, 3-month and 1-year forecasts.