An anticipated surge in defaults on auto loans could spell trouble for CarMax, a leading online car dealer. Despite having an Outperform rating on CarMax stock (KMX), Wedbush analyst Seth Basham has revised his price target from $90 to $80. This adjustment comes on the heels of an analysis of CarMax Auto Finance's latest auto-loan data. According to Basham, the delinquency rate … [Read more...] about Auto Loan Defaults May Pose Challenges for CarMax
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Shares of Cahya Mata Sarawak Fall Due to Decline in Net Profit
Shares of Cahya Mata Sarawak, a Malaysia-listed construction and maintenance services provider, experienced a significant drop following the company's announcement of a sharp decline in its third-quarter net profit. The stock fell by as much as 7.2% and was currently 6.3% lower at 1.04 ringgit, marking its second-largest daily loss in two years. According to the company, its … [Read more...] about Shares of Cahya Mata Sarawak Fall Due to Decline in Net Profit
Carvana Stock Surges as J.P. Morgan Upgrades Rating
Carvana stock has experienced a remarkable surge from around $4 to $40 this year, and it continues to climb, with an 11% increase on Monday, thanks to an upgrade. A team of J.P. Morgan analysts, led by Rajat Gupta, has raised their rating on Carvana shares from Underweight to Neutral, along with raising their price target to $40 from $25. This decision comes after a facility … [Read more...] about Carvana Stock Surges as J.P. Morgan Upgrades Rating
Payment Stocks Block and PayPal Slide, but Analyst Sees Potential
Payment stocks Block and PayPal Holdings both experienced declines on Tuesday, but according to BMO Capital Markets analyst Rufus Hone, it may be too early to dismiss them. Hone, who recently took over coverage of Block at the firm, maintained an Outperform rating on the shares despite cutting the price target to $84 from $93. Block's shares were down 1% to $64.36 on … [Read more...] about Payment Stocks Block and PayPal Slide, but Analyst Sees Potential
The Ever-Repeating Cycle of Market Delusions
Tyros and market idiots, of which there are an unlimited, replenishing number, always assert that this moment in market time is different than the past. In their view, stock prices can defy financial gravity and become unmoored from concrete facts and corporate earnings. The All-Too-Familiar Mass Delusions Mass delusions have played out during many market epochs, including the … [Read more...] about The Ever-Repeating Cycle of Market Delusions
