Day: November 26, 2021

Here’s Why Cars.com Stock Is Bucking the Trend Today

What happened

Shares of automotive marketplace platform Cars.com (NYSE:CARS) are bucking the trend in the markets today. While the Dow Jones Industrial Average is dropping almost 1,000 points, or 2.75%, Cars.com stock is soaring. As of 11:39 a.m. ET, Cars.com shares were trading near highs of the day, up just over 19%. 

So what

The surge in shares comes on the first trading day after it was announced that Cars.com stock will be added to the S&P SmallCap 600 index. That change won’t occur until Dec. 2, but a move into an index will cause some mutual and exchange-traded index funds to buy the shares. That has other investors jumping in ahead of them today. 

People shaking hands while one hands car keys to the other.

Image source: Getty Images.

Now what

Cars.com will replace DSP Group, which is being acquired by S&P MidCap 400 member Synaptics in a deal expected to close Dec. 2. Today’s surge in the share

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The Global Semiconductor Shortage Is Attracting Manufacturers To North America – Signature Auto Group New York Excited To Offer More Inventory To Customers | State

BROOKLYN, N.Y., Nov. 25, 2021 /PRNewswire-PRWeb/ — Signature Auto Group, a premier online car leasing company, with offices in both Brooklyn, NY and Fort Lauderdale, Florida, is excited to see semiconductor manufacturers opening new factories and supply chains in the United States and the rest of North America. All this in an effort to combat the current global chip shortage which has taken a toll on car inventory across the globe. With automotive and technology prices skyrocketing across the board, new factories in the United States will help to alleviate supply shortages.

The automotive industry has experienced a multitude of issues stemming from semiconductor shortages, such as manufacturing delays and part shortages. As demand for new vehicles continues to rise, prices across the board have increased, for both leasing and financing of new cars. Due to this, the used car market has seen an increase in

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Porsche May Have a Wild New 3-Row SUV Coming, Report Says

The idea of Porsche building SUVs is no longer controversial. The Macan and Cayenne have become Porsche’s most popular and profitable vehicles, and have developed into impressive sports cars in their own right. What Porsche does not have in the lineup, however: a three-row, family-hauling crossover. But that may change very soon.

Automotive News is reporting that Porsche is developing a new flagship model that will be larger, longer and wider than the Cayenne. The vehicle, the report suggests, will likely offer up to three rows of seats, with room for as many as seven people. The report has it arriving for the second half of the 2020s — so figure around 2026.

It’s not clear what precisely this new Porsche will look like. One dealer described it to Automotive News as a “new style of vehicle that is part sedan, part crossover” and noted it was “rakish.”

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