What Insider Moves Say About Carvana Stock
Had investors watched insider transactions for Carvana (NYSE: CVNA), they may have avoided a 90%-plus fall in its share price. What is trading by company executives telling us now?
Carvana stock was a pandemic darling. With consumers flush with stimulus cash, and stay-at-home restrictions leaving folks unable to visit used car lots, car-buyers turned to online platforms like Carvana. Sales in 2019 had alerady reached $3.9 billion but were dwarfed by its 2020 sales of $5.6 billion.
That's when things really started heating up for Carvana. When new car makers began finding it harder to find chips to produce new cars, demand for used cars skyrocketed. Low interest rates added fuel to the fire for Carvana sales. From 2020 to 2021, revenue more than doubled to $12.8 billion.
Source Fool.com
