Why Carvana Stock Is Moving Today
Portfolio Pulse from Henry Khederian
Carvana Co (NASDAQ:CVNA) shares are trading lower by 3.3% to $54.02, despite the potential benefit from the UAW strike that could disrupt new vehicle production and drive used car prices higher. The strike could increase demand for used cars, potentially driving up Carvana's sales and revenues.
September 15, 2023 | 1:56 pm
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Carvana's stock is currently trading lower, but the ongoing UAW strike could potentially increase demand for used cars, driving up Carvana's sales and revenues.
The ongoing UAW strike could disrupt new vehicle production, leading to an increase in demand for used cars. As a used car retailer, Carvana could potentially benefit from this situation, driving up its sales and revenues, which could lead to a rise in its stock price.
CONFIDENCE 80
IMPORTANCE 75
RELEVANCE 100