Carvana Co (NYSE:CVNA) shares have been trading higher, with gains of over 575% since the start of the year and 250% in the last three months. The surge was sparked by better-than-expected financial results and positive EBITDA expectations for Q2. The company also reported a lower quarterly loss than estimated due to a renewed focus on profitability. Carvana raised its Q2 outlook in June, leading to several analysts raising price targets. The company's total EV sales have increased by 786% over the past five years.