Why ACV Auctions Stock Popped Today

Shares of ACV Auctions (NASDAQ: ACVA) were moving higher today after the online vehicle-wholesale marketplace posted better-than-expected results in its second-quarter earnings report. Management said the e-commerce stock gained market share in the quarter, and though its adjusted earnings before interest, taxes, depreciation, and amortization (EBITDA) loss widened from $4 million in the quarter a year ago to $14 million, its EBITDA margin improved 500 basis points from the first quarter.