From Alphastreet - Earnings Decoded. Market Intelligence Delivered · AlphaStreet Newsdesk · · 40s
CarGurus Shares Drop 6.5% in Sector Selloff
CarGurus shares fell 6.5% Wednesday as internet content stocks tumble together
In brief
CarGurus shares fell 6.5% Wednesday as internet content stocks tumble together CarGurus dropped 6.5% due to sector-wide selling, not company-specific news Originally reported by Alphastreet - Earnings Decoded. Market Intelligence Delivered.
CarGurus Tumbles
CarGurus shares dropped 6.5% Wednesday to close at $29.85
Sector-Wide Selloff
SNAP dropped 6.2%, YELP shed 6.4%, and RUM fell 7.6% in the same session
Volume and Market Cap
Trading volume reached 508,329 shares as market cap dropped to $2.7 billion
No Company Catalyst
CarGurus declined without any specific news or company-related event
Sector-Wide Pressure
Investors saw coordinated selling across internet content and information stocks
What to remember
CarGurus dropped 6.5% due to sector-wide selling, not company-specific news
