CarMax Shares Stock Plunges 16% Despite Q4 Earnings Growth

(RTTNews) - CarMax, Inc. (KMX) shares fell 16.32% to $66.99, down $13.07, following the release of its fourth quarter results during Thursday's trading. Net earnings rose to $89.9 million from $50.3 million a year ago, and sales increased to $6.0 billion from $5.6 billion.

The stock opened at $69.49 and has traded between $63.22 and $71.55 so far today on the New York Stock Exchange. It previously closed at $80.06. Volume spiked to over 13.1 million shares, well above the average of 2.2 million. The stock is now testing the lower end of its 52-week range of $63.22 to $91.25.