What's Going On With Carvana Stock Friday?
Portfolio Pulse from Erica Kollmann
Carvana Company (NYSE:CVNA) shares are trading over 10% higher on Friday. The company announced it will report its Q2 financial results after the market close on August 3. CVNA has a high short interest with 68.52% of available shares currently being sold short. The shares are trading 10.9% higher at $26.98 at the time of publication.
July 07, 2023 | 3:24 pm
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Carvana's stock is trading higher ahead of its Q2 results announcement. The company has a high short interest, indicating a potential for a short squeeze.
The surge in Carvana's stock price is likely due to the anticipation of its Q2 results. The high short interest indicates that many investors are betting against the stock, which could lead to a short squeeze if the results are positive and cause the stock price to rise further.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100