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KAR Forecast

Price Forecast:

Bearish <-> Bullish

Bullish Case: A potential rally in KAR’s price, driven by mean reversion and bullish volatility indicated by high implied volatility (up to 500%). Strong historical returns support a strong upside potential towards $22–$24 in the near term.

Bearish Case: Increased bearish sentiment reflected in recent price action, exacerbated by high put option volumes. Significant downside risk exists if volatility spikes adversely or macroeconomic conditions worsen, potentially dragging prices below $17.

Potential Outcomes: Stability around $20 (40% probability).
Short-term rally to $22 (30% probability), driven by volatility event.
Drop to $17 (30% probability) if bearish sentiment persists.

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November 24, 2024

KAR Auction Services Forecast

KAR KAR Auction Services

Price Forecast
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Correlated Assets

Assets that tend to move strongly with KAR

FTI TechnipFMC (0.82)

REAL Therealreal (0.79)

SU Suncor Energy (0.77)

SHEL Shell Plc - ADR (Representing) (0.77)

EOG EOG Resources (0.77)

Uncorrelated Assets

Assets with little price relationship to KAR

EVGO EVgo (-0.0)

HDB HDFC (-0.0)

QRVO Qorvo (0.0)

RIG Transocean (-0.01)

BBWI Bath & Body Works (0.01)

Anticorrelated Assets

Assets that tend to move strongly against KAR

U Unity Software (-0.61)

ABEV Ambev (-0.65)

COO Cooper Companies (-0.68)

GL Globe Life (-0.68)

CZR Caesars Entertainment (-0.69)

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