AutoCanada (ACQ) shed 15% on its Q4 results, which came in light on the top line - driven by a near-20% drop in vehicle volumes…

… and missed big on margins, with used vehicle gross profit collapsing to sub-$450 per unit - as management cut prices to move higher aged inventory…

… which should continue through the first half of 2026. Combined with a number of recent executive changes, ACQ is likely to stay stuck at a discount…

… until investors gain confidence around improving fundamentals.