Why Cars.com Popped as Much as 23% Today
Shares of Cars.com (NYSE: CARS) resisted the negative economic sentiment pervading the broader market and jumped by more than 20% at the market open Thursday. As of 11:20 a.m. EDT, shares remained up by about 16%.
The automotive marketplace platform operator provided preliminary third-quarter results, and received two analyst upgrades on the news.
At the midpoint of its expected revenue range for the third quarter, the company forecasts a 40% jump in sales compared to the second quarter.
Source Fool.com
