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APE ASX: Nick Politis times the market like a Rich Lister

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The automotive billionaire sold a portfolio of dealerships to ASX-listed Eagers last year. Now, the company’s share price is down 30 per cent.

had purchased another 100,000 shares of the ASX-listed Eagers Automotive – the country’s largest car dealer – and where the Sydney Roosters chairman is the biggest shareholder by some margin.

In the case of Eagers, analysts are also warning of its inventory of cheaper Chinese-made electric vehicles. That is, a glut ofEnter Saint Nick. He has now bought twice – between a range of $10.40 and $10.50 a share immediately after the stock crashed – and again this week at $10.50. Acts of faith from a true believer, particularly one who already owns 28 per cent of the company.

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