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Why ACV Auctions Stock Just Dropped

TheMotleyFool

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ACV Auctions (NYSE: ACVA) stock tumbled 15.1% through 11:20 a.m. ET Tuesday after reporting mixed earnings last night.

Heading into the Q4 report, analysts forecast ACV would lose a penny a share on $182 million in sales. As it turned out, the online used-car marketplace beat the sales forecast, reporting $183.6 million. ACV badly missed the earnings projection, however, losing $0.11 per share for the quarter .

Image source: Getty Images.

Source Fool.com

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