CarMax shares took a hit on Wednesday, after sources told CNBC that investor Jim Chanos has taken a short position on the stock.
By midmorning Wednesday, the stock seesawed and was trading down 0.8 percent at $64 per share. At its lowest, the stock was down by more than 2 percent.
Famed short-seller Chanos is the founder and managing partner of Kynikos Associates.
The stock is down nearly 1 percent year-to-date.
CNBC has reached out to CarMax for comment.