Why Carvana Stock Is Soaring Today

Shares of used-car specialist Carvana (NYSE: CVNA) are soaring today, up 30% as of 11:45 a.m. EDT, after the company issued an exciting business update for the upcoming third quarter of 2020. In short, it expects to report record results for Q3, and investors are loving the news.

In addition to the business update, Carvana also announced a senior note offering totaling $1 billion, which likely contributed to today's move higher.

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Source Fool.com