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    Stephen McDermott

    senior equity analyst at Bank of America

    Stephen McDermott is a senior equity analyst at Bank of America specializing in financial sector research, with a focus on major U.S. and European banking institutions. Throughout his career, he has developed a reputation for detailed coverage and investment calls on leading companies such as JPMorgan Chase, Bank of America, and Citigroup, with performance metrics reflecting above-average success rates according to industry tracking platforms. McDermott began his career in investment research over a decade ago, previously holding analyst roles at other prominent financial institutions before joining Bank of America in his current capacity. He holds FINRA registrations including Series 7 and Series 63 licenses and is recognized for his expertise in fundamental banking analysis and sector outlook.

    Stephen McDermott's questions to ACV Auctions (ACVA) leadership

    Stephen McDermott's questions to ACV Auctions (ACVA) leadership • Q3 2024

    Question

    Stephen McDermott, on behalf of Curtis Nagle, asked about the growth mix between gaining new market share versus increasing wallet share with existing customers, and also questioned the company's long-term strategy regarding autonomous vehicles (AVs).

    Answer

    CEO George Chamoun explained that growth is driven by both, highlighting significant headroom to grow wallet share, particularly with national dealer groups. Regarding autonomous vehicles, he views them as another future category of used vehicles that will enter the wholesale remarketing cycle, similar to other fleet or commercial assets that ACV is already equipped to handle.

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