Used car stocks crash as demand flags and Goldman Sachs slashes autos outlook
Coronavirus
In This Story KMX -16.64% CVNA -8.49% GS -5.53% F -3.79% GM -3.63% The U.S. auto sector is taking a beating. After CarMax ( KMX -16.64% ) missed earnings expectations, its shares plunged nearly 20% Thursday afternoon, marking one of the company’s steepest single-day losses since early in the COVID-19 pandemic. As analysts flagged the mounting pressure on the used vehicle market, Carvana ( CVNA -8.49% ) dropped 9%. Suggested Reading Here's what's up with Tesla's slippery stock price today Trader
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