Why Carvana Stock Is Popping Off
Portfolio Pulse from Henry Khederian
Shares of Carvana Co (NYSE:CVNA) are trading higher by 13.9% amid the approaching UAW strike deadline. A strike could disrupt new vehicle production, potentially driving used car prices higher and benefiting Carvana. The odds of a United Auto Workers strike are over 90%, according to Evercore ISI analyst Chris McNally.
September 14, 2023 | 7:50 pm
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Carvana's stock is trading higher due to the potential UAW strike that could disrupt new car production and increase demand for used cars. This could lead to increased sales and revenues for Carvana.
The potential UAW strike could disrupt new car production, leading to increased demand for used cars. As a used car retailer, Carvana could benefit from this situation through increased sales and revenues, which could drive its stock price higher.
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