CarMax stock rises but underperforms competitors in grim session
Updated
Updated · MarketWatch · May 7
CarMax stock rises but underperforms competitors in grim session
8 articles · Updated · MarketWatch · May 7
Shares gained 1.22% to $39.91 on Thursday, marking a third straight advance, while the S&P 500 fell 0.38% and the Dow dropped 0.63%.
CarMax lagged peers including Carvana, up 2.73%, ACV Auctions, up 24.52%, and OPENLANE, up 4.81%, despite posting daily gains in a broadly weak market.
The stock finished 44.56% below its 52-week high of $71.99 reached on 3 July, and trading volume of 2.5 million was below its 50-day average.
As rivals post record profits, is CarMax’s price-cutting strategy a brilliant comeback or a desperate race to the bottom?
With a new CEO and an activist investor, can legacy giant CarMax actually catch up to its digital-first rivals?