CARG News and Press, CarGurus Inc. From 12/27/22

Summary CarGurus, Inc. is playing catch-up in a rapidly changing wholesale market. Instant Max Cash took a big hit sequentially as the number of transactions and average selling prices fell. Considering macroeconomic factors and not having the processes in place to deal with the cha...

Summary Shares of CarGurus have dropped more than 60% this year on weakening performance. Investors are also rightly unnerved over the company's expanding Instant Max Cash Offer program, which is still operating at negative margins. The company's profitability margins have dramatica...

Summary During the pandemic, the company's stock price surged reaching an all-time high of more than $360. Since then, the stock has lost nearly 98% of its value. Although Carvana has seen a huge increase in revenue, profitability has not yet followed. Carvana has made significant i...

Report from the most visited automotive shopping site in the U.S. 1 highlights factors that influenced the automotive market this year and trends to watch in 2023 CAMBRIDGE, Mass., Dec. 20, 2022 (GLOBE NEWSWIRE) -- CarGurus (Nasdaq: CARG), the No. 1 visited digital auto pl...

CarGurus ( NASDAQ: CARG ) to buyback up to $250M of its Class A common stock as part of its capital deployment strategy. The share repurchase program expires on December 31, 2023. “We are pleased with the strength of our balance sheet that continues to generate free ...

CAMBRIDGE, Mass., Dec. 08, 2022 (GLOBE NEWSWIRE) -- CarGurus (Nasdaq: CARG), the No. 1 visited digital auto platform for shopping, buying and selling new and used vehicles 1 , today announced its Board of Directors has authorized the Company to repurchase up to $250 million of its Class A com...

CAMBRIDGE, Mass., Dec. 01, 2022 (GLOBE NEWSWIRE) -- CarGurus (Nasdaq: CARG), the No. 1 visited digital auto platform for shopping, buying and selling new and used vehicles 1 , today released its U.S. November 2022 Intelligence Report. November saw used vehicle listing prices continue ...

CAMBRIDGE, Mass., Nov. 30, 2022 (GLOBE NEWSWIRE) -- CarGurus (Nasdaq: CARG), the No. 1 visited digital auto platform for shopping, buying, and selling new and used vehicles 1 , today released a first-of-its-kind study examining the well-being of dogs in electric vehicles (EVs). Conducted ...

CAMBRIDGE, Mass., Nov. 28, 2022 (GLOBE NEWSWIRE) -- CarGurus, Inc. (Nasdaq: CARG), a multinational, online automotive platform for buying and selling vehicles, today announced that Jason Trevisan, Chief Executive Officer, is scheduled to present at the Raymond James 2022 Technology Inv...

Investors in the Nasdaq Composite (NASDAQINDEX: ^IXIC) have had to deal with disappointment for much of 2022. Bear market pressures continued to weigh on the index Wednesday morning, with the Nasdaq opening lower by about 1%. Growth stocks have been a thorn in the Nasdaq's s...