Is Carmax a Buy After Its Latest Earnings Report?
Yesterday morning, before the market opened, CarMax (NYSE:KMX) reported impressive Q2 earnings, with revenue up 19.5% year-over-year (YOY) and earnings per share up a jaw-dropping 81.2%. So it was unsurprising that the company's shares were up 4.7% yesterday. But today, the market suddenly seemed to sour on CarMax. Shares plummeted throughout the day, dropping 7% to close at $55.09, below its pre-earnings price. What on earth happened? Is the company a buy at this price after its earnings report? Here's what investors need to know. Continue reading