Digital auto marketplace CAR has rallied over 20% in 2024, although we are mindful that it reached our target area when we went long in April. Unlike many, CAR is having success expanding internationally, and as the proportion of their earnings comes from offshore, their overall growth rate will accelerate. If we were looking to buy today, we’d be targeting the $32-33 area.
- We like CAR but may trim our position around new highs – MM owns CAR in our Active Growth Portfolio.
MM is long and bullish CAR
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