CarMax (KMX) Shares Rise After Starboard Value Reveals $350M Stake

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CarMax shares rose after activist investor Starboard Value disclosed a $350 million stake and nominated two directors to its board. Starboard is pushing for accelerated digital transformation, cost reductions, and dynamic pricing strategies for CarMax. The news comes after a significant stock decline for CarMax, which Starboard believes has substantial untapped potential and approximately $300 million in potential savings.

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