Why America's Car-Mart Stock Crashed Today
Like Carvana earlier this month, and like CarLotz earlier this week, used car dealer America's Car-Mart (NASDAQ: CRMT) benefited terrifically from the crunch in used car supplies -- and the higher prices that came with it -- in Q2 2021.
In Car-Mart's Q2 earnings report, released yesterday after market close, the company beat expectations for both sales and earnings, reporting $3.57 per diluted share in profit on $280.3 million in quarterly sales -- so why are Car-Mart's shares selling off today?
As of 10 a.m. EDT Wednesday, shares of America's Car-Mart are down a scary 11.2%, despite news that by all accounts qualifies as an earnings beat.
Source Fool.com
