Down 93% This Year, Is Carvana Finally a Buy Now?
Carvana (NYSE: CVNA) is in the business of selling used vehicles, but since its 2017 initial public offering (IPO) it has been on a roller-coaster ride rather than a relaxing drive. Because the stock has plummeted 93% over the past year, it's easy for investors to forget it was once a market favorite trading around $360 per share in August 2021 -- a mind-boggling drop to its current $19 per share levels.
That 93% drop is largely due to cash burn and debt concerns, but does Carvana's long-term potential finally make it a buy now?
One graphic that emphasizes Carvana's reliable playbook for entering markets isn't talked about enough. Take a glance at this, followed by some key takeaways.
Source Fool.com
