After an 83% Rally, is Carvana Safe to Buy Now?
Considering the state of the used-car market, rising interest rates, and other headwinds hampering it right now, Carvana (NYSE: CVNA) may wish it could sell snacks, soda, and chips out of its vending machines instead of vehicles.
But for risk-tolerant investors looking for a beaten-down stock, could Carvana's 83% surge so far this year be a signal that it's time to jump back on board the company that was once a Wall Street champion?
Carvana's primary investor narrative during the first few years was explosive growth. It wasn't unusual for investors to crack open a quarterly report and see year-over-year growth in the triple digits for revenue and units sold.
Source Fool.com
