Why Wall Street Loves This Growth Stock
Consumers who have tried to purchase a car this year might know of the present struggles in the auto industry. New cars are almost impossible to come by with dealer inventories down as much as 80%, thanks to shortages of key components like semiconductors.
It has pushed people to change up their purchase strategy and consider used cars too, which has sent prices in the secondhand market skyrocketing. Digital used car dealer Carvana (NYSE: CVNA) has been a big beneficiary, generating record sales and gross margins this year, which have helped push the stock to all-time highs.
There are some short-term risks, but it's no surprise Wall Street has a consensus overweight rating on the stock. Let's explore the details.
Source Fool.com
