Over the past 18 months, shares of online used car dealer Carvana (NASDAQ:CVNA) staged a miraculous turnaround. Many expected to hear about a bankruptcy filing, not a rally. But beginning in January 2023, Carvana stock did just that and rocketed over 2,400% higher. The stock has already more than doubled so far this year. Furthermore, there are more beaten-down stocks you should consider. This was a company that consistently lost money (it had never been profitable) and suffered from a lack of inventory due ...

Carvana reportedly expects that as more new vehicles are built, the company’s used car business will benefit. “There will likely be much more car production, and that will probably bode well,” Carvana CEO Ernest Garcia III told reporters Tuesday (May 14) at an Automotive Press Association event near Detroit, Bloomberg reported Tuesday. Online car shopping guide Edmunds said in April that new vehicle inventory was “rebounding.” “Compelling new product launches combined with the reintroduction of incentives a ...

Shares of Carvana are soaring after the company posted a surprise profit in first quarter earnings. One of the most intriguing case studies in the capital markets over the last couple of years is Carvana (CVNA 1.06%). The automobile industry got rocked during the peak of the pandemic as manufacturing and production became strained. Furthermore, working from home became common, with fewer people commuting to an office each day. As a result, the used car market witnessed a renaissance as people chose to trade ...

Carvana has distanced itself from its bankruptcy scare, but is it finally time to buy the used car retailer? It's almost difficult to believe the roller coaster story that is Carvana (CVNA -2.83%). It went on the wildest of rides during the COVID-19 pandemic and soared beyond any measure investors would have thought possible, only to crash to near bankruptcy. But the company survived, and began working to tighten up its operations and focus on profitability. So is it finally a stable enough stock to buy now ...

Momentum investing revolves around the idea of following a stock's recent trend in either direction. In the 'long' context, investors will be essentially be "buying high, but hoping to sell even higher." With this methodology, taking advantage of trends in a stock's price is key; once a stock establishes a course, it is more than likely to continue moving that way. The goal is that once a stock heads down a fixed path, it will lead to timely and profitable trades. Even though momentum is a popular stock cha ...

The used car specialist has further avenues for growth. Carvana's (CVNA -4.13%) shares soared 34% in the wake of its first-quarter earnings report on May 1, resulting in a year-to-date gain of 130% as of market close May 6. The stock has been an absolute rocket ship this past year and is up 3,100% from its early December 2022 low. Investors who were down on the stock likely believed the company was just another tech meme boosted by the pandemic and expected it to fail along with the collapse of the used car ...

Parkev Tatevosian, CFA has no position in any of the stocks mentioned. The Motley Fool has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. Parkev Tatevosian is an affiliate of The Motley Fool and may be compensated for promoting its services. If you choose to subscribe through his link, he will earn some extra money that supports his channel. His opinions remain his own and are unaffected by The Motley Fool. ...

Impressively, Carvana turned a profit in 2023 and in 1Q 2024. But there's more to the story here. On the surface, Carvana (CVNA 4.44%) looks like it had a spectacular turnaround year in 2023. Earnings rocketed from a $15.74 per share loss in 2022 to a profit of $4.12 per share. And it also seems like it got off to a big start in 2024, with a first-quarter profit of $0.24 per share. These are impressive results, but there's more to the story here than there appears to be. Here are three things you need to ke ...

Key Takeaways Carvana set profit and sales records in the first quarter and projected second-quarter retail unit growth and shares skyrocketed. The online used car retailer also posted an all-time high in gross profit per unit sold, and slashed expenses. Wedbush raised its price target on the stock to $120 from $80 each, pointing to the first quarter results and guidance. Shares of Carvana (CVNA) skyrocketed after the online used car retailer issued an upbeat outlook for the current quarter and had its best ...

Don't make the mistake of thinking Carvana is profitable now. It isn't. Carvana (CVNA 34.90%) reported its earnings results for the first quarter of 2024 last night, and the crowd went wild. Shares of the used car "vending machine" company soared 34% through 10:20 a.m. ET on results that easily beat expectations. Instead of the $2.7 billion in sales that Carvana was expected to report, the company did $3.1 billion. And instead of losing money as Wall Street expected, Carvana earned a surprise $49 million pr ...