Carscom

Here’s Why Cars.com Stock Is Bucking the Trend Today

What happened

Shares of automotive marketplace platform Cars.com (NYSE:CARS) are bucking the trend in the markets today. While the Dow Jones Industrial Average is dropping almost 1,000 points, or 2.75%, Cars.com stock is soaring. As of 11:39 a.m. ET, Cars.com shares were trading near highs of the day, up just over 19%. 

So what

The surge in shares comes on the first trading day after it was announced that Cars.com stock will be added to the S&P SmallCap 600 index. That change won’t occur until Dec. 2, but a move into an index will cause some mutual and exchange-traded index funds to buy the shares. That has other investors jumping in ahead of them today. 

People shaking hands while one hands car keys to the other.

Image source: Getty Images.

Now what

Cars.com will replace DSP Group, which is being acquired by S&P MidCap 400 member Synaptics in a deal expected to close Dec. 2. Today’s surge in the share

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Cars.com Hosts Free, Live Virtual Education Session on Electric Vehicles as EV-Curious Population Grows

CHICAGO, Oct. 25, 2021 /PRNewswire/ — Leading online car-shopping marketplace Cars.com (NYSE: CARS) will help shoppers explore electric vehicle (EV) ownership with Cars.com’s Guide for the EV Curious, a free, live virtual event with the company’s team of automotive experts on Oct. 28 at noon CDT. Cars.com experts will share information about EV ownership and answer live questions from consumers interested in EVs, which can also be submitted in advance. Registration is required at Live.cars.com.

“Cars.com bought its first plug-ins a decade ago, a Nissan Leaf and Chevrolet Volt, and we have since continued to evaluate scores of other electric models. Expanding beyond just how the cars drive, we live with EVs and test the range, as well as the cost and setup associated with home charging,” said Joe Wiesenfelder, Cars.com executive editor and EV expert. “With all the buzz surrounding EVs, our team will cover

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Inventory Shortages Drive Car Shoppers to Neighboring States: Cars.com Reports 10% of Recent Buyers Traveled Across State Lines to Purchase a Car | News

– June 10, 2021

Car Supply Shortage Squeezes Sellers and Shoppers as Cars.com Finds Nearly 1 in 3 Recent Buyers Drove 100 Miles or More for the Car They Want1 

CHICAGO, June 10, 2021 — According to recent research from leading digital automotive marketplace and solutions provider Cars.comTM (NYSE: CARS), nearly 10% of recent car buyers drove out of state to purchase their desired vehicle, with more than half (52%) of those traveling 25 miles, nearly 20% traveling 50 miles and 13% of buyers traveling more than 250 miles to a dealership due to ongoing new- and used-car inventory shortages.

“With the current auto inventory challenges, recent car buyers are going to great lengths to find the car they want,” said Kelsey Mays, Cars.com assistant managing editor, news. “I don’t anticipate this trend slowing down, either. Of consumers currently in the market and shopping for a car,

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43% of Car Shoppers Plan to Buy This Memorial Day Weekend, But It’s an Even Better Time to Sell, Reports Cars.com

CHICAGO, May 26, 2021 /PRNewswire/ — Car shoppers are ready to take advantage of Memorial Day weekend deals — if they can find them, according to recent research from leading digital automotive marketplace and solutions provider Cars.comTM (NYSE: CARS). However, shoppers may have better luck selling their vehicle to a local car dealership. With vehicle inventory levels falling, the demand for used cars is up, giving consumers a prime opportunity to get substantially more for their current vehicle given used-car list prices have increased 14% since January.2

“Memorial Day weekend is traditionally a very active car-shopping holiday with significant discounts offered across the industry, but the global chip shortage and huge consumer demand continues to impact both new and used dealer inventory,” said Kelsey Mays, Cars.com’s assistant managing editor. “A few attractive deals still exist this holiday among the more than 2 million cars for sale on Cars.com,

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