Carvana's Turnaround Could Be Just Beginning
CVNACarvana (CVNA) The Motley Fool·2024-05-08 02:22

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 ...