Why Carvana Is Soaring 25% Higher This Week
Shares of online used car dealer Carvana (NYSE: CVNA) are soaring 25.2% from where they closed last Friday, according to data compiled by S&P Global Market Intelligence, after having crashed and burned earlier in the week.
While the used car market continues to be a wreck, inflation easing more than expected in October allowed Carvana to hit the accelerator because it suggests the cost of buying a car -- and its own cost of doing business -- won't continue to get more expensive.
Image source: Carvana.
Source Fool.com
