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MarketBeat

Thomas Hughes

Carmax: Now is the Time to Load Up On This Used Car Stock

Carmax United States KMX MarketBeat

Carmax's (NYSE: KMX) share price fell 25% following the Q2 earnings release, hitting rock bottom in the process. Rock bottom aligns with the COVID-19-induced lows of 2020, a launchpad for share prices five years ago and one that will pay off again in the not-too-distant future.

The question is how long the stock price slump will last, and it could last for a few more quarters. The company reported a “challenging quarter” and did not indicate that the headwinds will cease.

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