What's Going On With Carvana Stock Today?
Portfolio Pulse from Erica Kollmann
Carvana Co. (NYSE:CVNA) shares are trading higher, with the stock climbing more than 25% over the last five days. The company has announced same-day delivery for vehicles in Indiana and Charlotte, North Carolina. Despite this, Carvana shares continue to attract short sellers, with 46.47% of available shares being sold short.
August 30, 2023 | 3:46 pm
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Carvana's stock is on the rise, with a 25% increase over the last five days. The company's announcement of same-day delivery in certain markets may be contributing to this upward trend. However, a high percentage of shares are being sold short.
Carvana's stock is experiencing a significant increase, which could be due to the company's announcement of same-day delivery in Indiana and Charlotte, NC. This new service could be attracting investors. However, the high percentage of shares being sold short indicates that many investors are betting on the stock's price to fall, which could potentially lead to a price decrease in the future.
CONFIDENCE 90
IMPORTANCE 75
RELEVANCE 100