Why CarMax Stock Plummeted Today
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 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.
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Source Fool.com
