If history is any guide, there may be trouble ahead for shares of CarMax (NYSE:KMX). A so-called "death cross" has formed on its chart and, not surprisingly, this could be bearish for the stock.
General Motors Co (NYSE: GM) on Tuesday introduced on a new digital retail platform that the automaker says will "elevate" the shopping and ownership experience of used cars.
The auto industry has been one of the most lucrative and controversial sectors in the stock market in recent years. On Thursday, one analyst adjusted price targets for several automaker stocks and named his top five auto stock picks for 2022.
The Analyst: Bank of America analyst John Murphy made the following automaker price target adjustments:
Toward the end of trading Wednesday, the Dow traded up 0.51% to 35,674.84 while the NASDAQ rose 0.53% to 15,422.40. The S&P also rose, gaining 0.60% to 4,677.06.
Midway through trading Wednesday, the Dow traded up 0.41% to 35,637.05 while the NASDAQ rose 0.80% to 15,463.85. The S&P also rose, gaining 0.67% to 4,680.45.