CMB Stock News Of The Day 📰📰🗞️🗞️📈📉

“CarMax shares fell after the company posted earnings that came in below expectations, with sliding used car sales adding further pressure to its results”

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CarMax (KMX $43.78, -23.26%) plummeted after reporting disappointing second-quarter results, with shares sliding more than 13% in premarket trading. The used-car giant posted adjusted EPS of just $0.64, well below Wall Street’s $1.04 forecast — a 38% miss. Revenue also came in light at $6.59 billion, a 6% decline from last year and short of the $7.01 billion analysts expected.

The company sold 199,729 used vehicles, down 5.4% year-over-year, while the average selling price slipped 1% to $25,993. Despite CarMax’s larger sales volume compared to Carvana, the online rival boasts a market cap more than 10 times bigger, reflecting investor confidence in its growth trajectory. CarMax’s weak quarter even dragged Carvana’s stock lower in premarket trading, down more than 3%.

The results highlight mounting challenges in the used car market — softer demand, falling prices, and rising competition — leaving CarMax struggling to maintain momentum in an industry undergoing rapid transformation.