Here's How Carvana Stock Doubled Last Month
Shares of Carvana (NYSE: CVNA) rose by 100.6% in June, according to data from S&P Global Market Intelligence. The online marketplace for used cars posted double-digit percentage gains for seven of the month's 21 trading sessions, alongside two single-day price drops of 10% or more.
This volatile stock moved for a variety of reasons. The month began with an upgraded credit rating on Carvana's repackaged auto loans. That was followed by management providing a boosted set of financial guidance targets, and later, the stock experienced a short-squeeze surge.
The guidance update and the higher credit rating sprang from improving business trends. The short squeeze, on the other hand, was a temporary side effect of Carvana's extreme share price volatility. The stock is still subject to massive short interest, with 68% of its shares on loan to investors betting on a downward price trend.
Source Fool.com
Carvana Co. Stock
With 7 Buy predictions and 6 Sell predictions the community is currently undecided on Carvana Co..
However, we have a potential of -65.22% for Carvana Co. as the target price of 41 € is below the current price of 117.88 €.
