A Bull Market Is Coming: 3 Reasons to Buy Carvana Stock
While the S 500 is up 9% so far in 2023, it's still down about 13% from its all-time high. The Federal Reserve's aggressive interest rate hikes last year posed a headwind for valuations, but with inflation showing some signs of cooling down, maybe a bull market is on the horizon in the not-too-distant future. No doubt, investors would be happy to see this to happen.
In this type of scenario, a speculative stock like (NYSE: CVNA) might do well. In my opinion, this is still an extremely high-risk investment to make right now, particularly because there is a ton of uncertainty around its financial situation and long-term viability. Nonetheless, if a bull market is indeed coming, here are three reasons to buy Carvana shares.
The first and perhaps most obvious reason to take a closer look at Carvana is because of its disruptive and innovative business model. The company has built out a nationwide infrastructure, as well as digital tools, to allow customers to confidently buy and sell used cars online. This provides a massive selection of inventory, better pricing, and far more convenience. Selling online usually translates into a better user experience. The same thing could be said about used vehicles.
Source Fool.com
Carvana Co. Stock
With 9 Buy predictions and 7 Sell predictions the community is currently undecided on Carvana Co..
However, we have a potential of -2.85% for Carvana Co. as the target price of 120 € is below the current price of 123.52 €.
