CarMax ( (KMX) ) is experiencing volatility. Read on for a possible explanation for the stock’s unusual movement.
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CarMax Inc.’s stock took a hit after the company reported second-quarter earnings that fell short of expectations. The earnings per share came in at 64 cents, and revenue was $6.59 billion, both missing analyst estimates. A significant factor in the revenue drop was a 5.4% decrease in retail used vehicle unit sales. Despite these setbacks, CEO Bill Nash remains optimistic about the company’s long-term strategy, focusing on improving SG&A efficiency and launching a new brand positioning campaign.
More about CarMax
YTD Price Performance: -29.76%
Average Trading Volume: 2,918,217
Technical Sentiment Signal: Sell
Current Market Cap: $8.56B
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