AI concerns eased, CarGurus stock price rises, Huber Research supports

LootboxPhobia · 2026-02-24T17:54:06+00:00

CarGurus stock price rose by 4%, easing market concerns about AI competition in software. The company is delving into the software sector, and although its stock price initially declined due to potential AI competition, Thursday's rebound is seen as a correction after being oversold.

LootboxPhobia

2026-02-24 17:54:06

Abstract generation in progress

Investing.com – CarGurus (NASDAQ: CARG) stock rose 4% on Thursday, after market concerns over competition from artificial intelligence in the software sector eased.

Earlier, the stock had declined due to Anthropic posing a threat to software companies, while CarGurus was expanding its software business. The Thursday increase represents a rebound for the stock.

Huber Research commented: “As CARG delves deeper into the software sector, overly exaggerated AI panic sentiment may be putting pressure on the stock price.”

This automotive marketplace company has been expanding its software capabilities, which has raised investor concerns about potential competition from AI platforms. Recent pressure on software stocks has been driven by widespread fears that AI technology could disrupt traditional software business models.

CarGurus operates an online automotive marketplace platform connecting buyers and sellers of new and used cars. Its expansion into software services places it alongside other tech companies facing scrutiny over AI competition.

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