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There is growing concern among investors that CarMax Inc. (KMX) will get left behind, due to its old business model, in an industry that is fast getting digitized, a process that has picked pace after the pandemic. Yes, the stock may have recovered most of the ground lost after March, when the used vehicle sales collapsed, but the stock continues to trade at a significant discount, based on most traditional valuation metrics, to peers that have higher exposure to online sales.
We believe the company has a place in changing used auto sales market. Yes,