Carvana Options Traders See Stock Surging Even More, After Shares Rise 739% Year-To-Date
Portfolio Pulse from Lisa Levin
Carvana Co. (NYSE:CVNA) shares traded higher after JMP Securities raised its price target on the stock. The shares are up more than 250% in the last three months, sparked by better-than-expected financial results. A trader expects Carvana’s stock to trade above the $47.70 level by the end of the week.
July 13, 2023 | 12:54 pm
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POSITIVE IMPACT
Carvana's stock is expected to continue its upward trend following a raised price target by JMP Securities and a trader's prediction of the stock trading above $47.70 by the end of the week.
The news of JMP Securities raising its price target on Carvana's stock and a trader's prediction of the stock trading above $47.70 by the end of the week is likely to boost investor confidence and potentially drive the stock price up in the short term.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100