Why Carvana (CVNA) Shares Are Driving Higher Wednesday
Portfolio Pulse from Erica Kollmann
Carvana Co. (NYSE:CVNA) shares are trading higher after JMP Securities maintained an Outperform rating and raised its price target from $25 to $50. The stock has gained more than 50% in the last five days and more than 315% over the last three months. It has also received attention from retail investors on social media and short sellers, with 68.52% of available shares being sold short.
July 12, 2023 | 4:19 pm
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Carvana's stock is trading higher after JMP Securities maintained an Outperform rating and raised its price target. The stock has gained significantly in the recent past and has attracted attention from retail investors and short sellers.
The positive rating and increased price target from JMP Securities are likely driving the stock higher. The significant gains in the stock price over the last few days and months, along with the attention from retail investors and short sellers, indicate a high level of interest and activity around the stock, which could continue to drive its price higher in the short term.
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IMPORTANCE 80
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