CarMax experienced a significant decline in its stock price, falling over 20% after reporting quarterly earnings that missed Wall Street expectations. The used auto retailer posted earnings per share of 99 cents, falling short of the $1.05 forecast, and revenue of about $6.6 billion, which was below the anticipated $7.02 billion. The company also reported a 4.1% decrease in vehicle sales and a 28% drop in net income to $95.4 million. CEO Bill Nash attributed the disappointing results to changing market conditions, earlier sales driven by tariff fears, and depreciation in inventory. He noted that each month of the quarter showed a decline compared to the previous year. The poor performance of CarMax also negatively impacted shares of other vehicle retailers, as investors closely monitor its results as a market indicator.