Carvana Stock Is Cruising: What's Going On?
Portfolio Pulse from Erica Kollmann
Carvana Co. (NYSE:CVNA) shares have risen over 10% on Tuesday, continuing the stock's recent upward trend. The stock has gained more than 55% over the past month and more than 360% in the past three months. Despite this, short sellers have shown significant interest in Carvana's stock, with 59.7% of available CVNA shares currently being sold short. Carvana will report its Q2 financial results after the close of markets on August 3.
July 18, 2023 | 4:28 pm
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POSITIVE IMPACT
Carvana's stock has been on an upward trend, but there is significant short selling interest. The company's Q2 financial results could impact the stock's performance.
Carvana's stock has been performing well recently, which is a positive sign for investors. However, the high level of short selling indicates that some investors expect the stock's price to fall. The upcoming Q2 financial results could either confirm the stock's positive trend or trigger a price correction if they disappoint.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100