Buy AUTO by Oct 6, 2026.

Autotrader in the UK (AUTO) is hilarious, they're such a monopoly their customers are trying to revolt but can't. Been searching for UK monopolies for my substack and find this vehicle selling platform. 63% margin, 51% ROIC and they convert literally 100% of their free cash flow (capex is under 1%?!). The monopoly got so intense that the relationship with customers is now super toxic. Dealers hate them, but they’re completely trapped because 80% of all traffic goes direct to …