What's Going On With Carvana Stock?
Portfolio Pulse from Erica Kollmann
Carvana Co. (NYSE:CVNA) shares are trading higher due to continued upward momentum and high short interest, making it a 'meme stock'. The company recently raised $225 million through the issuance of approximately 4.9 million shares. However, Jefferies analyst John Colantuoni downgraded Carvana from Hold to Underperform and lowered the CVNA price target from $55 to $30.
August 04, 2023 | 9:55 am
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NEUTRAL IMPACT
Carvana's stock is trading higher due to high short interest and recent capital raise. However, a downgrade from Jefferies could negatively impact the stock.
Carvana's stock is experiencing upward momentum due to high short interest and a recent capital raise. However, the downgrade from Jefferies could lead to a decrease in the stock's price in the short term.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
NEUTRAL IMPACT
Tupperware Brands Corporation (NYSE:TUP) was mentioned in relation to a recent short-squeeze, which could be driving broader interest in the 'meme stock' sector.
Tupperware was mentioned in the context of a recent short-squeeze, which could be driving broader interest in the 'meme stock' sector. This could potentially impact Tupperware's stock in the short term.
CONFIDENCE 70
IMPORTANCE 60
RELEVANCE 50