CarMax Stock Surges as Lower Prices Boost Sales at Used Car Giant

Key TakeawaysCarMax reported better-than-expected third-quarter results as lower prices helped boost demand.Retail unit sales gained 5.4% year-over-year, and wholesale sales grew 6.3%.CEO Bill Nash said used vehicle valuations have become more stable. CarMax (KMX) shares jumped Thursday when the biggest U.S. used car retailer reported its first quarterly sales increase in two years as lower prices brought out buyers.  CarMax posted a 1.2% year-over-year gain in third-quarter revenue to $6.22 billion, and ea ...