That should be a good thing for car-dealer stocks. But they are down on Wednesday.
Shares of online car dealers
(ticker: CVNA) and
(VRM) are down 5.9% and 2.3%, respectively, in recent trading. That compares with 1.3% and 1% respective drops in the
Dow Jones Industrial Average.
Traditional dealer and car-information provider stocks are weak Wednesday as well.
(SAH) shares are down about 2% on average. Shares of auto-data providers
(TRUE) are down roughly 3%.
This feels wrong. Brokerages are spread businesses buying and selling