Will Carvana Shares Keep Rallying in 2020?
Carvana (NYSE: CVNA) has been one of the biggest IPO success stories in the market in recent years. Shares of the used-car dealer are up more than 700% since their 2017 IPO, following a 181% jump last year.
The company has expanded its online-only model across the country, growing sales by opening new markets and increasing penetration in existing ones.
What's really made the stock surge since its IPO is its incredible streak of 23 straight quarters of triple-digit revenue growth. The company is also targeting more annual sales, hoping to hit 2 million vehicles or more. That's up more than 10 times from its current pace, showing the huge addressable market the business can penetrate.
Source Fool.com
