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Why CarMax Stock Just Crashed

TheMotleyFool

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Why CarMax Stock Just Crashed: https://g.foolcdn.com/editorial/images/856240/3-cars-crashed-in-an-intersection.jpg

Wow. What's the opposite of a "vote of confidence?" A vote of no confidence, perhaps? Because that seems to be the way investors are voting on CarMax's (NYSE: KMX) decision to appoint a new CEO this morning:

Interim CEO David McCreight is out, former InterContinental Hotels Group (NYSE: IHG) head Keith Barr is in as CarMax CEO -- and the stock's down 12% as of 1:05 p.m. ET.

Image source: Getty Images.

Source Fool.com