Carvana Stock Continues To Climb: What's Going On?
Portfolio Pulse from Adam Eckert
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.
July 10, 2023 | 3:27 pm
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POSITIVE IMPACT
Carvana's stock has been on a significant upward trend, driven by better-than-expected financial results and positive Q2 EBITDA expectations. The company's focus on profitability and increased EV sales could continue to drive the stock higher.
Carvana's better-than-expected financial results and positive Q2 EBITDA expectations have driven the stock price higher. The company's focus on profitability and the increase in EV sales are also positive indicators for the stock's performance.
CONFIDENCE 85
IMPORTANCE 90
RELEVANCE 100