Why Cars.com Stock Is Rising 11% This Week
Shares of Cars.com (NYSE: CARS) are up 11.5% from where they closed last Friday after the online auto marketplace posted fourth-quarter earnings that beat Wall Street estimates on the top and bottom lines, according to data from S&P Global Market Intelligence. New car prices were at an average of $49,507 in December while used cars were trading at an average of $29,533, a 5% drop from the record high of $31,095 reached last April.