Overlooked Alpha

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Overlooked Alpha
Overlooked Alpha
The Contrarian Case For CarMax Stock

The Contrarian Case For CarMax Stock

The cycle is turning against CarMax. It's worth buying anyway

Overlooked Alpha
Oct 23, 2022
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Overlooked Alpha
Overlooked Alpha
The Contrarian Case For CarMax Stock
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TLDR:

  • Used car dealer CarMax is headed for a few challenging quarters, at least.

  • The industry benefited from the pandemic but is now facing multiple headwinds.

  • Even in that context, a stunning decline implies CarMax’s business is less attractive than even pre-2020.

  • That sentiment appears far too bearish, and long-term, is likely to reverse.

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