Should You Buy Carvana Stock Right Now?
Investors who bet on Carvana (NYSE: CVNA) stock back in 2023 are now reaping huge rewards. The online used car buying and financing marketplace went through a serious rough patch in 2022 that sent its shares down by 99% from their all-time highs. But for investors who held on, or who bought in when the company's outlook looked dark, the ride since the beginning of 2023 has been nothing short of miraculous. Today, the stock is up by over 5,000% in just over two years.Though it's still more than 30% below its all-time high, Carvana today is back in the neighborhood of where it traded for the first half of 2021. What really happened with this used car marketplace company in the last two years, and should you invest in it today?Image source: Carvana.Continue reading
Investors who bet on Carvana (NYSE: CVNA) stock back in 2023 are now reaping huge rewards. The online used car buying and financing marketplace went through a serious rough patch in 2022 that sent its shares down by 99% from their all-time highs. But for investors who held on, or who bought in when the company's outlook looked dark, the ride since the beginning of 2023 has been nothing short of miraculous. Today, the stock is up by over 5,000% in just over two years.
Though it's still more than 30% below its all-time high, Carvana today is back in the neighborhood of where it traded for the first half of 2021. What really happened with this used car marketplace company in the last two years, and should you invest in it today?
Image source: Carvana.
