Why Cargurus (CARG) Stock Is Volatile This Week
Portfolio Pulse from Henry Khederian
CarGurus Inc (NASDAQ:CARG) shares are trading lower by 4.1% to $17.54, despite the potential benefit from the UAW strike that could disrupt new vehicle production and drive used car prices higher. The increased demand for used cars could potentially drive up sales and revenues for CarGurus, leading to a rise in its stock price. The company's 52-week high is $24.22 and the low is $9.14.
September 15, 2023 | 3:47 pm
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CarGurus' stock is trading lower despite potential benefits from the UAW strike. The strike could increase demand for used cars, potentially boosting CarGurus' sales and revenues.
The UAW strike could disrupt new vehicle production, leading to increased demand for used cars. This could potentially boost CarGurus' sales and revenues, which could lead to a rise in its stock price. However, the stock is currently trading lower, indicating that the market may not have fully factored in this potential benefit.
CONFIDENCE 80
IMPORTANCE 75
RELEVANCE 100