CarMax Inc. said Thursday that it has decided to stop buying back its stock, as it will take a conservative approach to its finances until the used car market and the economic backdrop improves.
The pause in repurchases comes as the used car seller reported a fiscal third-quarter profit and sales that fell well short of expectations, citing “vehicle affordability challenges.” The stock KMX slumped 7.1% in midday trading, putting it on track for the lowest close since April 2020.
Oh you didn't tell them ? This is not a recession everything is hunky dorry 🤣🤣💯
Cash is now king. Cut prices by 50% and a few buyers will appear.
Let's Go Brandon!!!!
لقد قمنا بتلخيص هذا الخبر حتى تتمكن من قراءته بسرعة. إذا كنت مهتمًا بالأخبار، يمكنك قراءة النص الكامل هنا. اقرأ أكثر:
المملكة العربية السعودية أحدث الأخبار, المملكة العربية السعودية عناوين
Similar News:يمكنك أيضًا قراءة قصص إخبارية مشابهة لهذه التي قمنا بجمعها من مصادر إخبارية أخرى.
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Nike stock jumps after earnings and revenue top expectationsNike earnings and revenue top estimates, but inventories and costs rise who can keep buying $150 sneakers designed to last 3 months and make your back hurt? They make them pennies on the dollar and pay handsome fees to sport figures and ad agencies. WS is never fucking happy
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