Why CarMax Stock Plummeted Today
CarMax delivered better-than-expected quarterly results, but the stock still sank.
Why CarMax Stock Plummeted Today
Overview
CarMax (NYSE: KMX) stock lost ground in Wednesday's trading even though the company recently reported better-than-expected quarterly results. The company's share price fell roughly 9% in a daily session that saw the S&P 500 fall approximately 1.2%, and the Nasdaq Composite decline roughly 1.3%.
Before the market opened this morning, CarMax published results for the first quarter of its 2027 fiscal year -- a period that ended May 31. The company actually posted sales and earnings for fiscal Q1 that beat the market's expectations, but forward guidance wound up coming in below the market's targets.
Image source: Getty Images.
Details
Source
Originally published at www.fool.com.
Related Articles
Disclaimer: This article is for informational purposes only and does not constitute investment advice. Data may be delayed up to 15 minutes. Past performance is not indicative of future results. Consult a licensed financial advisor before making investment decisions.
