What's Going On With Carvana Stock?
Portfolio Pulse from Ryan Gustafson
Carvana Co. (NYSE:CVNA) shares dropped by nearly 11% on Thursday despite the company's improved Q2 outlook and a range of analyst price target changes. The stock's surge was possibly due to over 68% of Carvana's float being sold short. Despite the pullback, shares are up for the month with a 400% price increase this year.
June 29, 2023 | 7:50 pm
News sentiment analysis
Sort by:
Descending
NEGATIVE IMPACT
Carvana's stock dropped despite improved Q2 outlook and analyst price target changes. Over 68% of the company's float is sold short, possibly contributing to the stock's surge.
Despite the company's improved Q2 outlook and a range of analyst price target changes, Carvana's stock dropped by nearly 11%. This could be due to the news of Kerrisdale Capital's short position in the company. However, more than 68% of Carvana's float is currently sold short, which could have contributed to the stock's surge this month.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100