What's Going On With Carvana Stock?
Portfolio Pulse from Erica Kollmann
Carvana Co. (NYSE:CVNA) shares are trading lower, down 10% over the last five days and nearly 5% on Tuesday. Analysts are split on the company's future, with Morgan Stanley maintaining an Underweight rating and raising the price target from $35 to $37, while JMP Securities reiterated a Market Outperform rating and maintained a $60 price target. Nearly 48% of available CVNA shares are being sold short.
August 15, 2023 | 3:28 pm
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Carvana's stock is trading lower, with a 10% drop over the last five days. Analysts are divided on the company's future, and nearly half of the available shares are being sold short.
The stock is trading lower due to a combination of factors. Analysts are divided on the company's future, with some maintaining a lower price target and others a higher one. This uncertainty, coupled with the high percentage of shares being sold short, indicates a bearish sentiment towards the stock.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100