Shares of CarGurus have erased all of their year-to-date gains, even after reporting strong second-quarter earnings results.
Revenue growth is still expanding north of 30% y/y, losing barely any momentum from last year's growth rates.
CarGurus is both expanding internationally as well as adding new services in order to maintain its top-line growth rates.
Used car sales are also fairly recession-proof, so CarGurus believes its user traffic won't be negatively impacted in case the economy turns south.
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As the market clears up from last week's losses and begins to look frothy again, I'm on the lookout