Lithia Motors Inc (LAD)

Shares of Lithia Motors, Inc. (LAD) dropped by 6.06% from $249.49 to $234.38 in the trading on Wednesday, October 25, 2023. The reason why LAD stock down is due to its worse-than-expected third-quarter earnings. Lithia Motors reported earnings per share of $9.25 for Q3 2023, falling short of the Zacks Consensus Estimate of $9.97 per share. This represented a decline from earnings of $11.08 per share in the previous year. The stock's immediate price movement will likely depend on management's commentary during the earnings call, given the earnings miss.