Why Carvana Shares Are Trading Higher By Around 20%; Here Are 20 Stocks Moving Premarket
Portfolio Pulse from Avi Kapoor
Carvana Co. (NYSE:CVNA) shares surged over 20% in pre-market trading after reporting better-than-expected Q3 financial results, with revenue and earnings per share surpassing analyst estimates. Other notable pre-market movers include Root, Inc. (NASDAQ:ROOT) and Alphatec Holdings, Inc. (NASDAQ:ATEC), both rising significantly due to strong quarterly results.
October 31, 2024 | 10:52 am
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POSITIVE IMPACT
Alphatec Holdings, Inc. shares climbed 22.4% in pre-market trading after reporting better-than-expected Q3 revenue and raising FY24 revenue guidance.
Alphatec's stock price increase is attributed to its strong Q3 revenue performance and an optimistic outlook with raised FY24 revenue guidance. This positive development is likely to enhance investor sentiment and drive the stock price higher in the short term.
CONFIDENCE 85
IMPORTANCE 60
RELEVANCE 70
POSITIVE IMPACT
Carvana's shares rose over 20% in pre-market trading after the company reported Q3 revenue of $3.66 billion and earnings of 64 cents per share, both exceeding analyst expectations.
Carvana's better-than-expected Q3 financial results, with both revenue and earnings per share surpassing analyst estimates, have led to a significant increase in its stock price. This positive financial performance is likely to boost investor confidence and drive the stock price higher in the short term.
CONFIDENCE 100
IMPORTANCE 90
RELEVANCE 100
POSITIVE IMPACT
Root, Inc. shares surged 79.1% in pre-market trading following the release of better-than-expected quarterly results.
Root's significant pre-market price increase is driven by its strong quarterly results, which exceeded market expectations. This positive news is likely to attract investor interest and support a short-term upward trend in the stock price.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 80