Cars.com shares soar after report the company hired JP Morgan to explore a potential sale

Cars.com shares soar after report the company hired JP Morgan to explore a potential sale

Shares of Cars.com jumped 8.8 percent Wednesday after a report the online car retailer hired J.P. Morgan to explore a possible sale. Shares rose 1 percent in after-hours trading. The New York Post reported Wednesday afternoon, citing a source, that Cars.com has hired J.P. Morgan to explore strategic options that include a potential sale of the company. The source said a sale looks likely, at possibly $40 a share. Cars.com has a $1.9 billion market…

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