Carvana Stock Is Surging Today: What's Driving The Action?
Portfolio Pulse from Adam Eckert
Carvana Co (NYSE:CVNA) shares are trading higher after the company raised its Q3 outlook due to fundamental progress in key business drivers and momentum early in the quarter. The company now expects adjusted EBITDA to be above $75 million and gross profit per unit to be above $5,500. Carvana shares have risen more than 800% since the start of the year.
August 09, 2023 | 12:56 pm
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Carvana's stock is surging due to an improved Q3 outlook. The company expects adjusted EBITDA to be above $75 million and gross profit per unit to be above $5,500. The stock has risen more than 800% since the start of the year.
The improved Q3 outlook indicates strong performance and growth in the company's key business drivers. This positive news has led to a surge in the company's stock price. Given the significant increase in the stock price since the start of the year, it's clear that investors have strong confidence in the company's performance.
CONFIDENCE 95
IMPORTANCE 90
RELEVANCE 100