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Why Carvana's Stock Is Rising Fast Today

TheMotleyFool

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Why Carvana's Stock Is Rising Fast TodayPhoto, wide shot, wide-angle lens, Private equity firm, Blue hour, twilight, cool, ISO1200, slow shutter speed, photo by Edward Burtynsky: https://img.theapi.app/temp/2b695cca-48cb-4195-802a-e3385fb90ec0.png

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

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