Carvana Stock: Buy, Sell, or Hold in 2023?
Perhaps no other stock has divided the investing community more than Carvana (NYSE: CVNA). Bulls point to the online used car retailer's innovative business model and massive addressable market. And bears quickly call out the company's deteriorating financials as it's teetering on the brink of bankruptcy.
Amid macro headwinds, the stock fell a jaw-dropping 98% in 2022, forcing many investors to question what to do with their investment. Should you buy, sell, or hold Carvana this year? Let's take a closer look at what's happening with this auto stock.
Between 2016 and 2021, Carvana increased units sold from 19,000 to 425,000, with revenue skyrocketing from $365 million to $12.8 billion during the same time. This easily made it one of the fastest-growing enterprises out there, bolstered more recently by low interest rates, pandemic stimulus measures, and struggling supply chains that kept demand and prices for used cars up.
Source Fool.com
