Carmax (NYSE: KMX) shares are trading near five-year lows, offering an intriguing opportunity. However, as insulated as it is from financial implosion, market forces are aligned to keep this stock from rising.
The takeaway from the fiscal Q4 20256 results and foward guidance is that business conditions are less than optimal, so bad, in fact, that management paused its share buybacks in order to preserve capital. This is a very significant detail, as the fiscal year 2025 (FY2025) buyback activity reduced the count by a high single-digit amount.
