Why Carvana's Stock Is Rising Fast Today
Investors flocked to the online car-selling company Carvana (NYSE: CVNA) today after Federal Reserve Chair Jerome Powell said yesterday that the Fed will likely make a smaller interest rate increase in December compared to its past meetings.
Carvana's business is especially sensitive to interest rates, so an indication that rate increases will be less severe could be a good thing for the company. Still, there's lots of uncertainty surrounding this stock right now.
Carvana's share price was up by 6.2% as of 2:29 p.m. ET Thursday.
Source Fool.com
