Why ACV Auctions (ACVA) Stock Is Down Today
Shares of online used car auction platform ACV Auctions (NASDAQ:ACVA) fell 9.2% in the pre-market session after the company reported weak fourth-quarter results, and provided full-year revenue and EBITDA guidance below Wall Street's estimates. The outlook assumes a flat dealer wholesale market, which may limit upside potential in the near term. In addition, margins deteriorated and the company burned cash during the quarter. On the other hand, ACVA blew past analysts' EBITDA expectations this qu