Fading · newly observed relationshipLatest completed snapshot · Sep 10 · 11:10 ET

MARKET-DISCOVERED GROUP

Auto Dealerships

THE TRADER READShared activity without a clean directional read

Price direction is split across 4 measured members. Capital-flow confirmation is unavailable.

Price breadth1 up · 3 downRelative median unavailable

Capital-flow alignmentUnavailablePrice breadth is not yet confirmed by flow

Activity nowLow_pressureActivity score 22/100

Evidence depth0 support daysLow sample—context, not a validated playbook

EVIDENCE CLOCK

What happened, in timestamp order

0 timed events

TIMING READA causal timing read is unavailable because no material member price onset could be timestamped.

No session event has enough timestamp precision to place on the clock.

2 earlier filing context receipts

THU, FEB 26PAG filing documented shared operating contextcredit / rates affecting interest expense · date precision only

THU, JUL 30ABG filing documented shared operating contextcredit / rates affecting interest expense · date precision only

01 · WHAT IS HAPPENING

The move, the flow and who is driving it

Price breadth, unusual activity and signed capital flow are separate observations

Price sequence unavailableA timestamped price sequence is unavailable.

RELATIVE CO-MOVEMENT

How the members are behaving together

Session-normalized

Observed intraday paths are not available for this group yet.

02 · WHY IT MATTERS

Why now and where the move could travel

Context and lead/lag links are evidence, not proof of causation or a forecast

WHY NOW

Verified recent context

0 items

No verified recent catalyst is attached to this move. The relationship may be market-led rather than news-led.

WHY THIS GROUP EXISTS

Shared filing context

4/4 members covered

Moderate filing support: the strongest shared 10-Q/K outlook is operating setup (near-term outlook) across AN, PAG, SAH.

credit / rates affecting interest expense

“2023 2025 2024 Change % Change 2024 2023 Change % Change Floor plan interest expense $ 170.6 $ 193.1 $ (22.5) (11.7) % $ 193.1 $ 135.3 $ 57.8 42.7 % Floor plan interest expense decreased from 2024 to 2025 due to a $24.9 million, or 13.7%, decrease in same-store floor plan interest expense, partially offset by a $2.4 million increase from net dealership acquisitions.”
PAG 10-K · 2026-02-27

demand / volume affecting revenue

“We believe the decrease in same-store unit sales is primarily due to the unusually high number of deliveries in 2023 resulting from production timing and delivery delays throughout 2022 caused by manufacturer supply chain challenges and the prolonged recessionary freight rate environment, partially offset by replacement demand for medium- and heavy-duty trucks.”
PAG 10-K · 2026-02-27

demand / volume

“We believe the decrease in our PTS equity earnings is primarily due to the prolonged recessionary freight rate environment, which negatively impacted demand for its transactional products.”
PAG 10-K · 2026-02-27

CONFIRMATION NETWORK

Outsiders and cross-asset links

0 outsiders confirming

ABG → UVXYPositive historical lead/lag · strength 0.34

ABG → SLVInverse historical lead/lag · strength -0.28

Filing-linked outsiders test whether the move is spreading beyond the established cohort.

No high-confidence filing-linked outsiders are available for this group yet.

03 · WHO IS IN IT

Member participation

Unusual activity and daily price direction are shown separately

ABGANSAHPAG

4/4 active1 rising · 3 falling

MemberUnusual activityToday's moveRead now

ABGAsbury Automotive Group, Inc.

Elevated · 100/100

-1.8%

Active; unclassifiedHistorical role unavailable

ANAutoNation, Inc.

Elevated · 97/100

-1.3%

Active; unclassifiedHistorical role unavailable

SAHSonic Automotive, Inc.

Elevated · 47/100

+0.4%

Active; unclassifiedHistorical role unavailable

PAGPenske Automotive Group, Inc.

Most unusual · 29/100

-0.8%

Active; unclassifiedHistorical role unavailable

View exact member values

TICKER	Company	Role now	Today	Observed history	Trader interpretation
ABG	Asbury Automotive Group, Inc.	Participating	-1.8%	—	Price participation is not yet confirmed by per-name flow.
AN	AutoNation, Inc.	Participating	-1.3%	—	Price participation is not yet confirmed by per-name flow.
SAH	Sonic Automotive, Inc.	Participating	+0.4%	—	Price participation is not yet confirmed by per-name flow.
PAG	Penske Automotive Group, Inc.	Most unusual	-0.8%	—	Most unusual activity in this snapshot; performance direction may differ.

04 · HAS THIS HAPPENED BEFORE

Identity history versus measured outcomes

Structural recurrence is not the same as a validated trading outcome

POINT-IN-TIME LIVE OUTCOMES

Live outcome ledger collecting

0/0 events completed

No completed point-in-time outcome is available yet. New live confirmations are now retained with their exact observation timestamp; statistics appear only after the corresponding candles complete.

Low structural sample

Only 0 completed episodes across 0 active sessions; treat history as context, not a validated playbook. These episode counts describe recurrence; the outcome ledger above is the only forward-performance evidence.

Structural support0 daysHow often the cohort identity was observed

Completed episodes0Separate periods of broad group activity

Active sessions0Completed session observations, not trades

Historical cohort observations are not available yet.