Carvana, CarMax stocks rise ahead of autoworkers’ contract expiration

Shares of used-car retailers Carvana Co.
CVNA,
+13.41%
rallied more than 12%, and shares of CarMax Inc.
KMX,
+2.97%
rose around 2%, in midday trading Thursday, with just hours to go for a contract’s expiration for autoworkers at Ford Motor Co.
F,
-0.40%,
General Motors Co.
GM,
-0.27%,
and Stellantis NV
STLA,
-0.90%.
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.