What's Going On With Carvana Co Stock?
Portfolio Pulse from Erica Kollmann
Carvana Co. (NYSE:CVNA) shares are trading higher ahead of its Q3 financial results release. The company is expected to report a loss of 80 cents per share and quarterly revenue of $2.782 billion. The stock is experiencing above-average trading volume, with over 6.6 million shares traded. Remarkably, 43.17% of available CVNA shares are being sold short. At the time of publication, Carvana shares are up by 14% at $29.62.
November 02, 2023 | 4:44 pm
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NEUTRAL IMPACT
Carvana's stock is trading higher ahead of its Q3 results. The company is expected to report a loss, which could impact investor sentiment. The high percentage of shares being sold short indicates a significant bearish sentiment.
The stock is trading higher, indicating positive investor sentiment ahead of the earnings release. However, the expected loss could negatively impact this sentiment. The high percentage of shares being sold short suggests that many investors expect the stock's price to decrease.
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