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SVTPerformance's Chain of Restaurants
Road Side Pub
Current New Vehicle Market
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<blockquote data-quote="Weather Man" data-source="post: 16844283" data-attributes="member: 137766"><p><h3><a href="https://seekingalpha.com/news/3908851-carmax-stock-drives-lower-as-wedbush-trims-estimates?source=content_type%3Areact%7Cfirst_level_url%3Amarket-news%7Csection_asset%3Amain" target="_blank">CarMax stock drives lower as Wedbush trims estimates</a></h3><p><a href="https://seekingalpha.com/symbol/KMX?source=content_type%3Areact%7Cfirst_level_url%3Amarket-news%7Csection_asset%3Amain" target="_blank">KMX -5.93%</a>Nov. 16, 2022 4:08 PM ET<a href="https://seekingalpha.com/news/3908851-carmax-stock-drives-lower-as-wedbush-trims-estimates?source=content_type%3Areact%7Cfirst_level_url%3Amarket-news%7Csection_asset%3Amain#scroll_comments" target="_blank">1 Comment</a></p><p></p><p>Wedbush analyst Seth Basham dimmed his view of CarMax (NYSE:<a href="https://seekingalpha.com/symbol/KMX" target="_blank">KMX</a>) on Wednesday amid slowing sales trends and increasing loan delinquency.</p><p>According to Wedbush’s proprietary sales tracker, CarMax (<a href="https://seekingalpha.com/symbol/KMX" target="_blank">KMX</a>) is on track for “high teens” used unit comps for the third quarter. Additionally, the firm expects the portfolio-level 31+ day delinquency rate increased 41 bps sequentially, well above an 8 bps historical seasonal average decrease.</p><p>“Delinquencies in October 2021 that coincided with the CAF systems transition have continued to worsen, an indication of underlying credit deterioration; indeed, this transition was fully anniversaried this month yet delinquencies continue to climb higher,” Basham said. “When adjusting for extensions, delinquencies continue to rise and are above pre-pandemic levels,</p><p>portending higher losses ahead.”</p></blockquote><p></p>
[QUOTE="Weather Man, post: 16844283, member: 137766"] [HEADING=2][URL='https://seekingalpha.com/news/3908851-carmax-stock-drives-lower-as-wedbush-trims-estimates?source=content_type%3Areact%7Cfirst_level_url%3Amarket-news%7Csection_asset%3Amain']CarMax stock drives lower as Wedbush trims estimates[/URL][/HEADING] [URL='https://seekingalpha.com/symbol/KMX?source=content_type%3Areact%7Cfirst_level_url%3Amarket-news%7Csection_asset%3Amain']KMX -5.93%[/URL]Nov. 16, 2022 4:08 PM ET[URL='https://seekingalpha.com/news/3908851-carmax-stock-drives-lower-as-wedbush-trims-estimates?source=content_type%3Areact%7Cfirst_level_url%3Amarket-news%7Csection_asset%3Amain#scroll_comments']1 Comment[/URL] Wedbush analyst Seth Basham dimmed his view of CarMax (NYSE:[URL='https://seekingalpha.com/symbol/KMX']KMX[/URL]) on Wednesday amid slowing sales trends and increasing loan delinquency. According to Wedbush’s proprietary sales tracker, CarMax ([URL='https://seekingalpha.com/symbol/KMX']KMX[/URL]) is on track for “high teens” used unit comps for the third quarter. Additionally, the firm expects the portfolio-level 31+ day delinquency rate increased 41 bps sequentially, well above an 8 bps historical seasonal average decrease. “Delinquencies in October 2021 that coincided with the CAF systems transition have continued to worsen, an indication of underlying credit deterioration; indeed, this transition was fully anniversaried this month yet delinquencies continue to climb higher,” Basham said. “When adjusting for extensions, delinquencies continue to rise and are above pre-pandemic levels, portending higher losses ahead.” [/QUOTE]
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