Carvana, CarMax stocks rise ahead of autoworkers’ contract expiration

Shares of used-car retailers Carvana Co.

rallied more than 12%, and shares of CarMax Inc. KMX, +3.05% rose around 2%, in midday trading Thursday, with just hours to go for a contract’s expiration for autoworkers at Ford Motor Co. F, -0.83%, General Motors Co. GM, -0.52%, and Stellantis NV STLA, -1.19%. Union and companies remain far apart ahead of the 11:59 p.m. Thursday expiration, and the United Auto Workers has vowed to strike at all three companies if no deal is reached.

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