Stock Alert: LMP Automotive Shares Rise 23%

(RTTNews) - Shares of LMP Automotive Holdings Inc. (LMPX) are rising over 23% Friday morning, after the company announced the acquisition of a 75% interest in a Southeast Toyota Franchise Dealership.

The acquisition is expected to be accretive to 2021 earnings by $.36 per share in 2021 and inclusive of synergies by $.40 per share.

The stock has been trading in the range of $3.28 - $49.30 for the past one year, and is currently trading at $10.32, up $1.97 or 23.59% in the regular session. Trading volume is rising over 230K versus an average volume of 108K shares.