After Skyrocketing 800% in the Past 12 Months, Is It Time to Buy Carvana Stock?
To say that (NYSE: CVNA) shareholders have had a bumpy ride would be putting it lightly. The online used car retailer saw its shares skyrocket in the first four years after it hit the public markets in 2017, with the market cap reaching $31 billion in August 2021. But macroeconomic headwinds that started in 2022 crushed the business, and the automotive retail stock cratered. Through 2022 and 2023, the stock dropped 77%,
There's a renewed sense of hope, though. Carvana stock soared 800% from Feb. 27, 2023, to Feb. 27, 2024, driven by upbeat financial results.
Is it time to buy this stock?
Source Fool.com
Carvana Co. Stock
€113.06
2.820%
Currently there is a rather negative sentiment for Carvana Co. with 3 Buy predictions and 7 Sell predictions..
The target price of 33 € compared with the current price of 113.06 € for the stock indicates a negative potential of -70.81%.
