Amid coronavirus woes, e-commerce retailing and used vehicles are drawing interest from dealerships, customers and investors alike. Online auto retailing holds massive opportunities and is likely to transform the automotive market in a big way in the coming years. Used-car e-retailers including Carvana CVNA, CarMax KMX, AutoNation AN and CarGurus CARG are capitalizing on rapid proliferation of Internet and digital shopping. All these stocks carry a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
The used-car online retailer, Vroom is grabbing a lot of attention with its public-market debut lately. The stock is off to an amazing start and is likely to beef up competition in the online automotive retailing space. Shares of Vroom’s closest peer, Carvana have skyrocketed more than 600% from its 2017 IPO price. With automotive e-commerce holding significant promise, investors are super thrilled about