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CARG - CarGurus Steps on the Gas After a Big Acquisition
CarGurus Inc.
Prior to the pandemic, CarGurus (NASDAQ: CARG) was making a name for itself as an online platform that connects automotive dealers and buyers. In 2019, the company grew revenue 30% and achieved a gross margin of 94%. Add to that the fact that the company was net income and cash flow positive, and CarGurus was worth a look for investors.
The pandemic put a pause on that momentum, but a recent acquisition has resulted in more revenues and profits and should be a catalyst for growth moving forward.