CarMax sells, finances, and services used and new cars through a chain of around 250 used retail stores. It was formed in 1993 as a unit of Circuit City and spun off into an independent company in late 2002. Used-vehicle sales typically account for about 83% of revenue (79% in fiscal 2024 due to the chip shortage) and wholesale about 13% (19% in fiscal 2024), with the remaining portion composed of extended service plans and repair. In fiscal 2024, the company retailed and wholesaled 765,572, and 546,331 used vehicles, respectively. CarMax is the largest used-vehicle retailer in the US but still estimates that it had only about 3.7% US market share of vehicles 0-10 years old in 2023. It seeks over 5% share a few years from now. CarMax is based in Richmond, Virginia.

CarMax sells, finances, and services used and new cars through a chain of around 250 used retail stores. It was formed in 1993 as a unit of Circuit City and spun off into an independent company in late 2002. Used-vehicle sales typically account for about 83% of revenue (79% in fiscal 2024 due to the chip shortage) and wholesale about 13% (19% in fiscal 2024), with the remaining portion composed of extended service plans and repair. In fiscal 2024, the company retailed and wholesaled 765,572, and 546,331 used vehicles, respectively. CarMax is the largest used-vehicle retailer in the US but still estimates that it had only about 3.7% US market share of vehicles 0-10 years old in 2023. It seeks over 5% share a few years from now. CarMax is based in Richmond, Virginia.

CarMax Inc. is primarily a retailer of used vehicles in the U.S. Established in 1993, the company operates 245 used car stores. CarMax has two segments: CarMax Sales Operations and CarMax Auto Finance (CAF). The Sales Operations segment sells used vehicles, purchases used vehicles, arranges financing options, and sells related products and services. CAF provides auto financing to CarMax customers, services the loans it originates, provides billing statements, collects payments, and coordinates the repossession of vehicles as needed. The company also receives income from expanded protection plans and service revenue. Headquartered in Richmond, Virginia, it has approximately 30,000 employees. KMX shares are a component of the S&P 500.

Insiders remain on the sidelines. Meanwhile, the breadth of the overall market is of concern to some, with the DJIA lower over the past month, the S&P higher, and the Nasdaq soaring. That's not ideal balance -- though there are some recent signs of the start of rebalancing among the major indices. As well, some big-name tech companies are making headlines as C-suite execs sell stock (see Nvidia). That's well worth keeping an eye on -- but it is hard to pound the drum too hard right now. With the stock up about 156% in the YTD, some profits were likely to be taken. Again, though, this needs to be watched carefully, not just for NVDA but for all the AI stocks that have pulled the stock market to all-time highs. If they start to wobble, will investors truly reallocate or head for the hills? On a sector basis, selling by insiders last week was greatest in Information Technology, with shares valued at $430 million sold, followed by Healthcare ($198 million sold) and Financials ($157 million sold). Buying outpaced selling in Energy, with $52 million of shares bought versus $1.5 million sold, as well as in Consumer Staples. This week, analysts at Vickers highlighted insider transactions of interest at Applied Materials Inc. (NGS: AMAT) and Teva Pharmaceutical Industries Limited (NYSE: TEVA).