Why Carvana Stock Hit the Brakes Today
Shares of the online car-buying company Carvana (NYSE: CVNA) were crashing today after a Wells Fargo analyst cut the company's price target, just one day after a Wedbush analyst downgraded the stock and cut his price target for its shares.
Making matters worse for the company is the fact that Carvana has been facing legal issues in some states in response to how it handled the transfer of car ownership to some of its customers.
As a result, the automotive stock was down 18% today as of 2:45 p.m. ET.
Source Fool.com
